New Northern Policy aims to ease tensions through economic cooperation

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Song Young-gil, is a democratic member of the National Assembly in South Korea and the chairman of the Presidential Committee on Northern Economic Cooperation.

He is here in China to introduce the New Northern Policy.

South Korea has been exploring ways to step up economic cooperation with Russia and other Northeastern Asian nations in various areas under President Moon Jae-in's so-called New Northern Policy, launching the Presidential Committee on Northern Economic Cooperation last year.

CGTN's Hou Na interviews Song Young-gil. /CGTN Photo

Under the initiative, South Korea and Russia have launched a consultative body to push for joint economic projects in various areas, including energy, shipbuilding, fishery and transportation, to create new growth drivers.

Song Young-gil said this new policy is President Moon Jae-in's strong philosophy to connect Russia, Mongolia and China through economic cooperation.

He said that cooperation among Northeast Asian countries for the successful development of the Far East would be another fundamental solution to the Democratic People's Republic of Korea's nuclear issue. The new vision seeks to create a huge economic territory that would expand from the Korean Peninsula and the Russian Far East to Northeast Asia and Eurasia.

CGTN's Hou Na interviews Song Young-gil. /CGTN Photo

Song Young-gil said China's role in resolving crisis on the Korean Peninsula is critical. He said President Xi jinping's recent meeting with Kim Jong Un was very good.

He praised China's Belt and Road Initiative and said it can complement work with the New Northern Policy in terms of building infrastructure and promoting trade.