S. Korea Plans to Start Railway Project With North This Year

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South Korea President Moon Jae-in says his government plans to begin a joint railway project with North Korea this year, while also linking “full-scale” inter-Korean economic…

South Korea President Moon Jae-in says his government plans to begin a joint railway project with North Korea this year, while also linking “full-scale” inter-Korean economic cooperation with denuclearization progress in the North.

During a speech on Wednesday commemorating the liberation of Korea at the end of World War II, Moon said, “It is the goal to hold groundbreaking ceremonies within this year for the reconnection of railroads and roads as agreed to in the Panmunjom Declaration. The reconnection of railroads and roads is the beginning of mutual prosperity on the Korean Peninsula.”

Moon and North Korean leader Kim Jong Un agreed to pursue increased economic cooperation when they met in April in the Panmunjom village located in demilitarized zone (DMZ) of the inter-Korean border area. At the Panmunjom summit, Kim also agreed to work toward the denuclearization of the Korean Peninsula.

The progressive South Korean president also played a key role in facilitating a historic summit in June between the North Korean leader and U.S. President Donald Trump, where Kim reaffirmed his commitment to denuclearization.

However subsequent bilateral talks to implement the denuclearization agreement have floundered over Washington’s insistence that Pyongyang completely dismantle its nuclear and missile arsenals before any economic concessions are granted. North Korea wants concessions tied to incremental progress.

Currently international sanctions imposed on North Korea for its provocative nuclear and ballistic missile tests prohibit the estimated $35 billion joint Korean railway project to link not only South and North Korea with high speed train service, but also provide South Korean industries an overland rail connection to China, Russia and even Europe.

The tough international restrictions block most financial transactions and 90 percent of all trade with North Korea.

President Moon did not say if he would seek an exemption from sanctions to proceed with the railway project.

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