• S. Korea puts economic unification tab at $500 billion

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    SEOUL: South Korea’s top financial regulator said on Wednesday that developing North Korea’s moribund economy in the wake of eventual reunification would cost around $500 billion. Financial Services Commission (FSC) chairman Shin Je-Yoon told a seminar in Seoul that the estimate covered a period of 20 years that would be needed to raise the North’s per capita gross domestic product from the current $1,251 to $10,000. The FSC stressed the figure of $500 billion was open to revision and should not be taken as an official government position, but rather a starting point for discussion.

    AFP

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