Economic Benefits for North`s Abandoning Its Nuclear Weapons Program

The 10th APEC summit, which had been held in Mexico, was closed on Oct. 28th KST. Upon ending up the session, the leaders of APEC member countries issued a separate statement stressing the economic benefits North Korea would receive if it abandons its nuclear weapons program.

In the statement, the leaders emphasized, "We pay our attention to the economic benefits North Korea would receive by participating more actively as a member of the Asian Pacific region. But it presupposes a Korean Peninsular free of nuclear weapons."

Later, President Kim Dae Jung and Chinese President Jiang Zemin held a summit. During the summit, the two heads discussed various issues regarding North Korea`s nuclear weapons program and agreed to cooperate to peacefully solve the nuclear issue and to keep the Korean Peninsular free of nuclear weapons.

At the meeting, President Kim emphasized the active diplomatic involvement of the nations around the peninsular in resolving North Korea`s nuclear issue. In response, President Jiang confirmed that China wants to resolve the problem in a peaceful manner. He explained to President Kim that, in his Oct. 28th meeting with President Bush, he emphasized the importance of the gradual and peaceful approach to the problem.

The leaders also adopted a statement consisting of 44 articles containing their agreement on 5 topics such as the need for their cooperation to root out terrorism, the importance of expansion of benefits from economic development and cooperation, and the ways to improve transparency, diversity and competitiveness of the financial market.

The national heads also issued a separate statement stressing their interest in rooting out terrorism.

President Kim, in his speech during the session, emphasized, "APEC members should assist North Korea`s stabilization and economic development, if North demonstrates its will to become a member of the international community by abandoning its nuclear weapons program."

Wrapping up his APEC schedule, President Kim left Mexico and arrived at Seattle in the early morning of Oct. 29th.

ysmo@donga.com