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

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

He expressed hope that Moscow and Pyongyang would "consistently develop mutually beneficial cooperation, including the implementation of the three-party program involving Russia, North Korea and South Korea".

President Moon Jae-in delivers a speech at a ceremony held in Yongsan, Seoul on August 15, 2018 to mark the 73rd anniversary of Korea's liberation from the 1910-45 Japanese colonial rule.

Now global 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.

"Rather, the development of South-North Korean relations is the driving force that promotes denuclearization of the Korean Peninsula", Moon said.

The South Korean president has called for the creation of road and rail links between his country and North Korea by the end of the year. "The determination and courage that led to the country's liberation will again take us over the current division and bring us true liberation of peace and prosperity", Moon said.

"The two sides discussed denuclearization and a declaration to end the 1950-53 Korean War at the North Korea-controlled Tongilgak building, along with Pompeo's possible trip, said sources", the report continued.

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"Economic cooperation can really take off when peace is established on the Korean Peninsula, along with its complete denuclearization".

Emphasizing that improved inter-Korean ties could be a boon to a South Korean economy with slowing growth, he remarked, "Peace is the economy", stressing the two were "synonymous".

The two Koreas announced earlier this week that Moon and Kim will meet in Pyongyang sometime next month. The invitation was issued in June but the Kremlin said Pyongyang had yet to respond.

During their first summit in April, Moon and Kim had agreed to push for an end to the Korean War together with the United States this year, but Washington has said its focus is on denuclearisation, although Trump in Singapore had promised security guarantees for the North. The meeting comes at a time when tension appears to be increasing again between the Trump administration and North Korea.

The upbeat tone of Moon's Liberation Day speech envisioning potential economic benefits from a nuclear-free Korean Peninsula Wednesday was markedly different from last year's, when the United States and North Korea appeared on the brink of waging war with exchanges of bellicose rhetoric.

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