Two Koreas Set April 27 for Kim Jong Un's Historic Walk South
(Bloomberg) -- Kim Jong Un could become the first North Korean leader in history to enter South Korea in just over four weeks, when he steps across the heavily fortified border for a summit with President Moon Jae-in.
The April 27 meeting on the southern side of the demilitarized zone will be the first between leaders of the two nations in 11 years. Leaders of the two nations -- which are still technically at war -- have only met twice since the peninsula was divided in 1948.
Next month's summit -- a precursor to a potential meeting between Kim and U.S. President Donald Trump -- is the culmination of diplomatic efforts after North Korea fired a flurry of missiles last year. Kim got the ball rolling with a call for talks in a New Year's Day speech, which led to his nation's participation in the Pyeongchang Olympics and a series of meetings between the two Koreas.
“As the date for the inter-Korean summit is finalized now, we will do our best to be fully prepared for it during the given time,” Moon's spokesman, Kim Eui-kyeom, said in a text message. “We hope all South Koreans will be united in making a groundbreaking turning point for peace settlement on the Korean Peninsula at the summit.”
Trump, Xi
The question now is whether the summit can lay the groundwork for a successful Trump-Kim meeting and a return to multi-nation talks on the denuclearization of the Korean Peninsula. The North Korean leader paid a surprise visit to Beijing this week to meet Chinese President Xi Jinping, with China saying Kim expressed an openness to discussions over his nation's nuclear program.
Trump welcomed the meeting between Kim and Xi, while calling for continued pressure against the isolated regime. “Maximum sanctions and pressure must be maintained at all cost!” Trump said.
Trump has also threatened military action to prevent Kim from obtaining the ability to achieve its stated goal of being capable of striking the continental U.S. with a nuclear weapon.
Earlier Thursday, Moon's office released a statement praising China's participation in discussions to help stabilize the situation on the peninsula. "We expect the upcoming inter-Korean and U.S.-North Korea summits to provide a clear turning point for eternal denuclearization and a peace system on the Korean Peninsula," spokesman Kim said.
Japanese Foreign Minister Taro Kono told parliament that his nation would consider holding talks with North Korea in the context of the other summits taking place. The Asahi newspaper said earlier that Kim Jong Un's administration was seeking a summit with Prime Minister Shinzo Abe. The yen weakened to a two-week low against the dollar after the report.
QuickTake on North Korea's nuclear program
The last inter-Korean summit was held in October 2007 between then President Roh Moo-hyun and Kim Jong Il, the father of the current North Korean leader. The pair signed a peace declaration calling to end the armistice with a permanent treaty, but progress stalled and the two sides remain in a stalemate.
The first summit was in June 2000 between the elder Kim and South Korean President Kim Dae-jung, a proponent of the so-called Sunshine Policy. The meeting led to family reunions until ties soured under conservative President Lee Myung-bak.
To contact the reporter on this story: Kanga Kong in Seoul at kkong50@bloomberg.net.
To contact the editors responsible for this story: Brendan Scott at bscott66@bloomberg.net, Andy Sharp
©2018 Bloomberg L.P.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.