Can North Korea save the South?

“Unification will allow the Korean economy to take a fresh leap forward and inject great vitality and energy,” Park told Bloomberg News on Jan. 10. “People would even sing, ‘We dream of unification even in our dreams.’”

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The idea isn’t as dippy as it sounds. Economists generally rate Park’s first year in office as a dud. She arrived at the presidential Blue House with big talk of building a more “creative” economy. Yet her plans to empower small- and medium-size companies and to rein in the family-run conglomerates, or chaebol, that dominate the economy remain embryonic.

As her second year begins, Park must accelerate efforts to restructure Korea’s outdated and top-heavy growth model. Folding unification into the strategy is audacious. In theory, combining the South’s capital and technology with the North’s human and natural resources could create a powerful growth engine.

Of course, this entire discussion hinges on Kim’s willingness to remove the soldiers, artillery and barbed wire that continue to line the demilitarized zone.

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