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North Korea Strategy Tops Agenda at Biden-Moon Summit Friday

US
  • South Korean President Moon Jae-in is set to make a last-ditch attempt to bring the U.S. and North Korea together under his watch, trying to revive dormant nuclear talks in his final year in office.
  • However, Pyongyang, which has displayed disdain for both leaders, has shown no interest in their diplomacy - raising the stakes for the Friday summit.
  • NK Analyst notes, from Kim Jong Un's point of view, while Moon may not be able to play a pivotal role in US-North Korea diplomacy, he may be able to steer the Biden administration in a direction that would be more palatable to Kim.
  • Biden administration has indicated it may be ready to ease some sanctions in exchange for steps by Kim to freeze, cap and wind down his nuclear arsenal.
  • That could help the North Korean leader fix an economy that has only shrunk since he took power about a decade ago.
  • Kim has turned up pressure early on Biden, starting 2021 by saying he wanted to develop more advanced nuclear technologies. In March, he test-fired ballistic missiles for the first time in a year and more launches could be coming soon.
  • Kim Jong Un continues to rebuff South Korea and perceives a new U.S. administration as an opportunity to negotiate, but is prepared to take provocative and coercive steps with long-range missile tests or possibly even demonstrate its nuclear capability"
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletMarketsFixed Income BulletsForeign Exchange BulletsHomepage

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