The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Kim Yong-hwan, “Korea Eximbank”) held an international conference titled ‘International Cooperation to Promote Peace in Northeast Asia and Development of North Korea’ at Yeouido Conrad Hotel on November 19.

The conference was held to explore international cooperation strategies to induce North Korea to become a responsible member of the international community, in connection with the ‘Trust-Building Process on the Korean Peninsula’ promoted by the government.

The conference was attended by over 200 participants including National Assembly Speaker Gang Chang-hee, Minister of Unification Ryu Gil-jae, Korea Eximbank Chairman Kim Yong-hwan, German Ambassador to Korea Rolf Mafael, World Bank Chief Economist Deepak Mishra, and other North Korea and Northeast Asia experts from academia, political parties, and international organizations.

Chairman Kim opened the conference by emphasizing the need to “guide North Korea into a path of integration into the international community”, adding that “cooperation among Northeast Asian countries to promote North Korea’s development will not only bring peace and prosperity in this region but also usher in a new Eurasian era”.

Speaker Gang Chang-hee remarked in his congratulatory address, “the center of gravity of the world is shifting toward Northeast Asia, and the development of North Korea will stand a better chance of success when pursued on the basis of peaceful relations among Northeast Asian countries”.

Minister of Unification Ryu Gil-jae also opined, “We have to continuously persuade North Korea to become a responsible member of the international community by employing pressure and dialogue, inter-Korean and international cooperation in a balanced and consistent manner”.

Over the course of three sessions, presenters and participants had lively discussions on such topics as the strategies of Northeast Asian countries for promoting North Korea’s development, the outcome of Pyonyang’s development drive, and the role of international development organizations in promoting cooperation among North Korea and Northeast Asian countries.

The last session, in particular, saw in-depth debates on the importance and implications of development cooperation for North Korea, based on Eastern Europe’s and Vietnam’s experiences of transition as related by officials from the World Bank and European Bank for Reconstruction and Development (EBRD).

As the trustee of the Korean government’s Inter-Korean Cooperation Fund (IKCF), Korea Eximbank has been supporting diverse inter-Korean exchange and cooperation initiatives for the past 22 years, including by holding annual seminars on promoting North Korea’s development and by launching a ‘Consultative Group of Northeast Asian Eximbanks’.