Throughout North Korea’s history, it has regarded external relations with suspicion and as a potential threat to its regime. With North Korea working towards denuclearization, there is now hope for an economic opening. This book examines the external economic strategies that North Korea may consider for its reforms and development, which are related to the East Asian economic integration process.

This book emphasizes that considering theoretical factors as well as conditions of the North Korean economy, economic opening and integration should have high priority, anteceding or at least being parallel to economic reforms and transformation. Also, among various alternative strategies for achieving the goal of economic reform and development based on economic opening, the utilization of East Asian regional economic integration framework would be the best option for North Korea, because this framework can provide an opportunity for North Korea to overcome structural problems in its external economic relations and to circumvent political conflicts, thus leading to a smoother rapprochement towards economic opening.

This book is timely as it shows how a new economic recovery strategy on the Korean Peninsula may be accomplished.

This book looks at external economic strategies that North Korea will show much interest in and are related with East Asian economic integration process for its reform and development, emphasising that economic opening and integration should have a high priority, anteceding or at least being parallel to economic reform and transformation.

1. Introduction2. Theory of Economic Integration and Transformation3. North Korea's Motives and Strategies for External Economic Relations4. North Korea's External Economic Relations5. Progress of Regional Integration in East Asia6. North Korean Trade Policy: Constraints and Options7. Regional Financial Cooperation and North Korean Development8. Conclusion