The Export-Import Bank of Korea (www.koreaexim.go.kr, Chairman Lee Duk-hoon, “Korea Eximbank”) announced on July 2 that the bank and Freie Universität Berlin hosted the '2014 International Conference for North Korea Development' to give flesh and substance to the idea of development cooperation encompassing Northeast Asia and North Korea, with a view to preparing for Korea's unification.

The conference took place at the Westin Chosun Seoul with the participation of Speaker of the National Assembly Chung Ui-hwa, Chairman of the Parliamentary National Defense Committee Hwang Jin-ha, Minister of Unification Ryoo Kihl-jae, Chairman & President of the Export-Import Bank of Korea Lee Duk-hoon, Director of European Bank for Reconstruction and Development Piroska M. Nagy, Euler Hermes Deutschland AG Board Member Hans Janus, and about 200 North Korea experts from Korea and abroad.

In his opening ceremony, Chairman Lee remarked, "A unified Korea will offer new development opportunities to countries in Northeast Asia by serving as a nexus of peace connecting Eurasia to Northeast Asia." He added, "Korea Eximbank will work with international financial institutions to promote development cooperation with North Korea, and in doing so will lead efforts to lay the groundwork for Northeast Asian development."

Speaker Chung Ui-hwa said in his congratulatory speech, "We need to persuade North Korea to build trust with the international community as it engages constructively with the outside world."

The conference comprised two sessions entitled "Promoting Development Cooperation in Northeast Asia and North Korea: The Role of International Financial Institutions" and "Laying a Foundation for Unification through Northeast Asia and North Korea Development Cooperation: Realities and Challenges".

In the first session, presenters and panelists discussed development issues in Asian countries and transition economies. Particular focus was given to the role of financial institutions in those states and its implications for North Korea.

"The government of the FRG made export credit guarantees available for export companies in the GDR for a while, which allowed for a smoother integration of East German corporations into the global economy," said Mr. Hans Janus. "The role of domestic and international financial institutions would likewise be tremendously important for North Korea's transition."

"Eastern European transition economies made strenuous efforts to build partnership with the international community, in order to prevent domestic turbulence that tends to accompany transitions," said Director Piroska M. Nagy, emphasizing the necessity for North Korea to "build partnership with international organizations in order to effect a stable transition".

In the second session, participants reviewed the state of Northeast Asian development and discussed international development cooperation strategies regarding North Korea.

Bernhard Seliger, Director of Hanns Seidel Foundation's Korea Office, said that "all projects other than the most basic forms of food aid, which merely had to be distributed, involved some form of capacity building to enhance aid efficiency." He added that "capacity-building projects such as knowledge sharing should be actively pursued in relation to North Korea as well."

Professor Li Zhong-Lin from Yanbian University noted that "the Tumen River area is the logistics hub of Northeast Asia, but its development has been slow." He continued, "Since China is keen on developing the Changchun-Jilin-Tumen zone, its cooperation with Korea and other neighboring countries in this endeavor would provide a strong impetus to the development of North Korea's Rason Economic Development Zone."