S Korean president: Inter-Korean economic co-op restricted by nuclear issue

SEOUL, Nov. 4 (Xinhua) -- South Korean President Lee Myung-bak on Wednesday said that inter-Korean economic cooperation would be inevitably restricted if the Democratic People's Republic of Korea (DPRK)'s nuclear issue could not be solved.

While speaking to an Economist Intelligence Unit meeting held in Seoul, Lee said broader economic cooperation between South Korea and the DPRK would be conducive to peace and sustainable development in both Northeast Asia and the whole world.

To meet the goal, the issues concerning DPRK's nuclear program, the main obstacle to economic cooperation between the two countries, must be settled first, Lee noted.

On the "grand bargain" proposed by him during his visit to the United Nations in September, Lee said the proposal is a realistic plan put forward at the time that the international community needs to confirm the DPRK's determination on denuclearization and consult Pyongyang's demand. A general consensus on this package of solutions has been reached among the five related countries engaged in the six-party nuclear disarmament negotiations, he added.

Lee said he hoped the DPRK could return to the international dialogue sincerely, and work with other parties together to seek ways to resolve the nuclear issue.

The "grand bargain" calls on Pyongyang to abandon its nuclear program and complete irreversible denuclearization in exchange for a security guarantee and economic aid granted by the international community.

South Korean Unification Minister Hyun In-taek also said in the day that the nuclear issue is endangering the peace and stability of the Korean Peninsula and hindering the development of the inter-Korean ties.

Hyun said the South Korean government has a firm will on inter-Korean relations, and Seoul hopes to develop an inter-Korean relationship recognized and supported by both South Korean people and the international community.

South Korea has repeatedly said denuclearization is the top emphasis of its DPRK policy.