Seoul [South Korea], Feb 25 (ANI): South Korean President Moon Jae-in on Monday urged his advisors to resume economic cooperation with North Korea, underlining the need to take the lead in developing sanctions-ridden communist nation.
"Should North Korea's economy be opened, neighbouring countries, international organisations and global funds will take part. In the process, we must not lose our leadership. We are the masters of our own fate on the Korean Peninsula," Yonhap News Agency quoted Moon as saying in a weekly cabinet meeting at the 'Cheong Wa Dae' or the South Korean presidential office.
Welcoming the upcoming summit between North Korea and the US slated to be held in Vietnam on February 27-28, Moon remarked, "The two leaders of the North and the US have come this far after walking the path that no one else walked before."
Last week, the South Korean president spoke to his US counterpart Donald Trump and insisted on resuming inter-Korean economic cooperation as part of Washington's corresponding measures it could offer to Pyongyang in exchange for the latter's progress of denuclearisation.
Underlining South Korea's active support and cooperation in the upcoming meeting between Trump and North Korean leader Kim Jong-un, Moon said, "Should President Trump succeed in dismantling the last remaining Cold War regime on earth, it would be another great achievement that will clearly go down in the history of the world."
The South Korean president heaped praises on the North Korean leader for putting economic development on the forefront over nuclear weapons.
"We will actively prepare for the new Korean Peninsula regime that will move from war and confrontation to peace and coexistence, from factionalism and ideology to economy and prosperity, while standing not in the periphery but at the centre of history," Moon said.
Trump and Kim had met for the first time at Sentosa Island in Singapore last June, wherein the two leaders agreed to work towards achieving "fully verifiable" denuclearisation.
North Korea's commitment to dismantle its nuclear weapons programmes was hailed as a major stride by the international community.
However, ties between the US and North Korea hit a roadblock over the ease of sanctions, where Pyongyang sought relief in economic sanctions as recognition of the steps taken towards denuclearisation.
Washington has, until now, reinforced that relief in sanctions would only be given after the communist country carries out complete denuclearisation.
Both the sides will be hoping to work towards the concretisation of steps for a peaceful Korean Peninsula, including complete denuclearisation, when Kim sits down with Trump in Hanoi this week. (ANI)