President Moon Jae-in's visit to Russia is likely to give a boost to his “New Northern Policy.” The three-day visit came last week amid ongoing inter-Korean detente and improving ties between Washington and Pyongyang. If North Korea makes much progress in dismantling its nuclear weapons, Moon's much-touted policy could bear fruits by strengthening cooperation with Russia and other Eurasian countries.
Moon held his third summit with Russian President Vladimir Putin in Moscow, Friday. The summit took place at a time when Seoul and Washington need Moscow's support for the complete denuclearization of the Korean Peninsula. In this regard, Moon's summit produced successful results as Putin committed to realizing the shared goal of denuclearizing the North and settling peace and stability on the peninsula.
The North's denuclearization and better inter-Korean ties are pivotal to translating the New Northern Policy into action. This policy is aimed at improving South Korea's economic cooperation with not only Russia, but also Mongolia and Central Asian countries. President Moon presented the prospects for three-way cooperation between the two Koreas and Russia.
It is noteworthy that Seoul and Moscow have agreed to conduct a joint study to check the feasibility of cross-border energy, railway and natural gas projects. Moon and Putin shared their interest in linking the inter-Korean railway to the Trans-Siberian Railway. If this link is realized, South Koreans will be able to travel to Europe overland. Optimism for this is growing as Seoul and Pyongyang are holding working-level talks to discuss re-linking the severed rail lines between the two Koreas.
The energy sector will also have great potential for the trilateral cooperation. Seoul and Moscow can build a pipeline running through the North to supply Russian liquefied natural gas to the South. They also can establish a power grid to connect the Northeast Asian electricity network which covers South Korea, China and Japan. The network, if completed, will promote economic integration in the region and open the way for expanded cooperation with other Eurasian countries.
During his speech at the State Duma, the lower house of the Russian parliament Thursday, Moon promoted nine core sectors for potential cooperation between the two countries. Those sectors include railroads, natural gas, electricity, Arctic shipping routes, shipbuilding, agriculture and fisheries. Furthermore, Moon proposed a free trade agreement (FTA) with Russia to increase trade with and investment in each country.
But there are still many obstacles to overcome. Most of all, North Korea should faithfully make good on its denuclearization promise to establish permanent peace, stability and co-prosperity on the peninsula. Seoul and Pyongyang also have to build mutual trust and promote reconciliation in order to promote economic collaboration. They should wait for the international community to ease or lift sanctions against the North following the much-needed dismantlement of its nuclear program.
The Moon administration should spare no efforts to make sure that the New Northern Policy will be a win-win game for all countries in Northeast Asia and the Eurasian region.