Abstract
This paper reviews the features of the “Policy of Mutual Benefits and Common Prosperity” and its feasibility, as well as, a comparative retrospective between Lee Myung Bak’s North Korea policy and the previous two administrations’ Engagement Policies in terms of goal, linkage between politics and economy, economic pragmatism, reciprocity, universal standards, institutional mechanisms, and international cooperation. Furthermore, an analysis of the four challenges that the current administration faces is addressed in the latter half of this paper: harmonizing inter-Korean relations with respect to denuclearization, pace of inter-Korean relations in line with U.S.-North Korean relations, future of North Korea’s leadership, and domestic conflict. While the aforementioned laundry list suggests a selective engagement policy in order to overcome challenges, denuclearization and inter-Korean relations should be pursued on a parallel path. The pacing of inter-Korean relations should be maintained abreast with the rapprochement of U.S.-North Korean relations. The future of North Korea’s leadership and its policies should be taken into account in mapping and carrying out Seoul’s policy toward Pyongyang. Seoul should resolve current and potential conflicts and build national consensus on the unification related issues. Lastly, this paper proposes several major tasks to restart and progress inter-Korean relations. Envoy-level talks are recommended to break the ice and official/unofficial meetings of high-level officials from both Koreas should be convened. Humanitarian assistance will also open up the currently deadlocked inter-Korean talks. It is desirable to draw forth North Korea’s cooperation by recognizing the June 15 Joint Declaration of 2000 and the 10.4 Agreement of 2007 concluded at the last summit talks between the two Koreas.
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