Moon Jae-in was elected South Korea’s President on Tuesday upon promises to reengage with North Korea. He says that building economic cooperation with the regime of Supreme Leader Kim Jong Un would help raise living standards, reducing tensions as well as the economic burden of any future reunification. And even before Moon had delivered his victory speech, this key campaign pledge was already whirring into action.
In fact, it had even before polls opened.
On May 2, South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT) issued an “emergency notice” to invite firms to submit bids on potential infrastructure projects in North Korea, particularly regarding the mining sector.
“[Seoul] will develop … mines and establish power generation facilities and transportation infrastructure around mines,” the MOLIT said, according to a translation by NK News. “Profitability will be secured by owning the development rights of resources or exploiting mineral resources.”
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