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South Korea seeks to form railway community like coal deal that set up EU

SOUTH Korean President Moon Jae-in has proposed an 'East Asian Railroad Community' that includes the US and North Korea, comparing it to the alliance that set up a coal and steel community that led to the European Union

South Korea seeks to form railway community like coal deal that set up EU
19 August 2018 - 19:00

SOUTH Korean President Moon Jae-in has proposed an 'East Asian Railroad Community' that includes the US and North Korea, comparing it to the alliance that set up a coal and steel community that led to the European Union.

President Moon, who plans to visit Pyongyang next month for his third summit this year with Kim Jong Un, said that the new economic community would connect his country's railways to those of other northeast Asian nations, reported Bloomberg.



'The community will expand the horizon of the Korean economy to the northern part of the continent and become the main artery of mutual prosperity in Northeast Asia,' Mr Moon said, adding that the group could lead to similar energy and economic groupings. 'It will initiate a Northeast Asian multilateral peace and security system.'



President Moon has championed efforts to bring peace to the Korean Peninsula since taking office last year, and played a crucial role in bringing President Kim and US President Donald Trump together for their historic first summit in June. Since then, little progress has been made in getting North Korea to commit to a specific timetable to give up its nuclear weapons.



Kim's regime has advocated a phased approach in which the US would grant North Korea a peace deal and other security guarantees in concert with its own disarmament steps.

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