"Kim Jong-un Does Not Understand US Proposal for World Bank Membership... Declaration of End of War Important as Part of Package"

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Steven Biegun, U.S. Deputy Secretary of State and Special Representative for North Korea, is giving a lecture on "The Future of the United States and the Korean Peninsula" on the afternoon of the 10th at the Asan Institute for Policy Studies in Jongno-gu, Seoul. Photo by Joint Press Corps

[Asia Economy New York=Correspondent Baek Jong-min] It was recently revealed that the United States offered North Korean Supreme Leader Kim Jong-un membership in the World Bank (WB) ahead of the second North Korea-U.S. summit, but Kim did not understand the significance of the proposal.

Stephen Biegun, former U.S. Deputy Secretary of State and special representative for North Korea during the Trump administration, shared an anecdote from his visit to North Korea before the 2019 Hanoi second North Korea-U.S. summit at a North Korean Economy Forum hosted by the George Washington University Korean Studies Institute on the 15th (local time) via video conference.

Biegun said that when he visited North Korea with then-Secretary of State Mike Pompeo, they asked Kim Jong-un about his willingness to join the World Bank as one of the economic incentives for denuclearization.

Kim Jong-un reportedly looked at Secretary Pompeo and responded, "What is the World Bank?" Biegun said, "I will never forget that answer. It sent us a message that there is much work to be done here."

The World Bank is an international financial institution established to support underdeveloped countries. The United States holds the largest share in the World Bank. The U.S. proposal for North Korea to join the World Bank can be interpreted as an offer to support economic development funding through international organizations. It was essentially a proposal to integrate North Korea into the international financial system.

Biegun's remarks emphasize that while Kim Jong-un desires economic development for North Korea, he is not familiar with international rules.

Biegun analyzed that North Korea's recent statements toward the U.S. and missile launches may indicate that it is considering resuming dialogue not only with South Korea but also with the United States.

He said, "The fact that North Korea has started sending messages externally suggests that it is considering minimum conditions and will re-engage with the world under those conditions."

Biegun added, "The important thing is the link of communication," and expressed, "I very much welcome the fact that South and North Korea are directly talking again, and I hope the U.S. can also find ways to resume and maintain communication with North Korea."

He also pointed out, "North Korea is using dialogue as a bargaining lever," and "They seek incentives simply through the act of dialogue itself, rather than through reciprocal measures demanded by the U.S. and others."

Biegun said it will continue to be a difficult challenge and noted that North Korea is watching next year's South Korean presidential election, where regime change could occur as it did in the last U.S. presidential election.

He added, "North Korea's recent moves, such as reopening the hotline with South Korea, may be intended to start interference that could influence South Korea's political outcomes next year."

Regarding the declaration of the end of the war, which President Moon Jae-in proposed again at the United Nations General Assembly, Biegun said, "If it is part of a combination of a series of steps or measures that can start building momentum, I think it will play a very important role," while diagnosing the declaration as "a political statement without legal binding," and cautioned against exaggerated interpretations about side effects.

Biegun advised that North Korea dislikes proposals to meet unconditionally, saying, "What we need to do is quietly work on measures that both sides can take, including the possibility of a declaration of the end of the war, which can be part of a package rather than separate."

This content was produced with the assistance of AI translation services.