South Korean President Announces Reunification Comitee

South Korean President Announces Reunification Comitee

Park Geun-hye, the President of South Korea has announced that she will support a committee that would prepare the blueprint for a reunification with the North. While President Park talked about the prosperity a reunification would bring several analysts say that the costs for South Korea would be humongous.

The President of South Korea announced plans to form the reunification committee this Tuesday saying that it will operate directly “under the presidential office”. The main goal of the committee will be to increase private exchange with the communist sister-state and to help increase civilized dialogue between the two sides.

The President added that the committee would be formed from a multitude of experts from various fields that range from economics, security andt sociology to private organizations or diplomacy experts. She argued that by taking this holistic approach, a very basic but functional blueprint for reunification would be created.

Both countries have announced with complete certainty that they view reunification as their main goal, however, how the actual process would happen has not been addressed by either side. While most analysts agree that the richer south should slowly integrate the impoverished north, current estimates show that the high disparities between the two countries’ economies would result in a gigantic cost for South Korea ranging in the trillions of dollars.

Posted by James Fried on Thursday February 27 2014, 4:08 AM EST. Ref: VoA. Link. All trademarks acknowledged. Filed under Featured News, World. Comments and Trackbacks closed. Follow responses: RSS 2.0