Is a Korean peace treaty on the cards?

The historical and unprecedented meeting between the two leaders of Korea is a monumental development. Can both leaders use this opportunity to enhance geopolitical stability and open up new economic development possibilities? Leon Perera, CEO of Spire Research and Consulting, shared his thoughts in The Business Times – Views from the Top section on 7 May 2018.

Marking a remarkable change, the unprecedented meeting between the leaders of the two Koreas underlines the possibility of a peace treaty and denuclearization agreement.

However, Perera expressed scepticism about North Korea’s commitment to completely renounce nuclear strike capability against Japan and South Korea, since this is the only factor ensuring regime survival.

World leaders need to take this chance to limit the North’s nuclear capability while accepting that it may never be completely voided, bring the North into the global framework and work towards economic development on the Korean peninsula.

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