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Background and Outcomes

The Presidential Committee on Northern Economic Cooperation was launched

2017.06.26
The Committee was established to take charge of northern economic cooperation under the direction of the President
  • ROK-North Korea-Russia trilateral cooperation and ROK-Russia bilateral cooperation are both critically needed for the development of the Far East
2017.07.19
100 Major Government Projects were announced
  • Forming a "Responsible Northeast Asia Plus Community" > Promoting the New Northern Policy
  • Promoting diplomacy centered on balanced cooperation with four neighboring countries > Reinforcing ROK-Russia economic cooperation
  • Designing the New Economic Map for the Korean Peninsula: Connecting the three belts (East Sea, West Sea, and DMZ) with the northern economy
2017.08.25
Rules and regulations for the foundation and operation of the Committee were established
2017.08.28
Song Young-gil was inaugurated as Chairman of the Committee
2017.09.06
President Moon Jae-in met with President Vladimir Putin and gave a keynote speech at the 3rd Eastern Economic Forum
  • Declaring the New Northern Policy and proposing the 9-BRIDGE Strategy for ROK-Russia cooperation in nine areas
2017.12.07
The Committee held its 1st meeting
2018.06.18
The Committee held its 2nd meeting
2018.11.06
Kwon Goohoon was inaugurated as Chairman of the Committee
2018.12.12
The Committee held its 3rd meeting
2019.03.27
The Committee held its 4th meeting
2019.06.26
The Committee held its 5th meeting

Background

  • Great growth potential is evidenced by the large market and rich resources
    • Need for a new growth engine with ROK's major industries (automobile, shipbuilding, textiles, etc.) having reached maturity and China's growth slowing
    • Economic structure complementary with that of ROK, which has high demand for energy and boasts industrial advancement > Many incentives for cooperation
    • Favorable impression of ROK, a middle power, and historical and cultural bonds accumulated over centuries
  • Efforts to achieve regional economic integration and market opening have accelerated
    Russia
    • Launch of Eurasian Economic Union (EAEU)
    • Implementation of New East Asia Policy to reinforce cooperation in Asia-Pacific
    China
    • "One Belt, One Road“ initiative
      • Silk Road on land: Connecting China, Central Asia, and Europe
      • Silk Road on the sea: Connecting China and Southeast Asia by sea
    Mongolia
    • Promotion of the implementation of the Mongolia-China-Russia Economic Corridor
      • 32 cooperation projects in transportation, logistics, energy, agriculture, etc.
    Kazakhstan
    • Implementation of Nurly Zhol
      • Connecting to the Western Europe-Western China Road Corridor