Presidential Committee on Northern Economic Cooperation holds 4th meeting in Seoul

북방경제협력위원회 4차회의 개최.. "정부와 지자체간 신북방정책 연계 강화할 것"South Korea's presidential office set up a committee in 2017.... tasked with pursuing economic cooperation with countries to the north of the Korean Peninsula... as part of the Moon Jae-in administration's so-called 'New Northern Policy'.The committee held its fourth meeting today,... focusing on plans to get Korea's local governments -- cities and provinces -- involved..Our Ko Roon-hee explains. Members of the Presidential Committee on Northern Economic Cooperation met in Seoul on Wednesday ...to discuss how South Korea's local cities and provinces can contribute to increasing cooperation with countries like Russia and Mongolia.Citing its achievements so far, such as the increase in trade volume with Russia by more than 30-percent last year, the committee emphasized the importance of meeting at this time...when South Korea is facing uncertainties at home and abroad. "In this difficult situation, the New Northern Policy will create a new growth engine. Also, the committee will cooperate with the international community so certain conditions can be prepared for North Korea to join sometime in the future."Representatives joined from different cities and provinces...to present how each of them will boost their respective economic cooperation with countries north of the Korean peninsula.For instance, Ulsan Metropolitan City's goal is to continue to build an 'energy hub' for Northeast Asian countries in Ulsan Port. The hub, which will include energy storing facilities for oil, is expected to be as large as 684-thousand square meters by 2026. In Pohang, the goal is to work with related organizations to run cruise operations connecting South Korea, Russia and Japan. Gyeongsangbuk-do Province's goal is to support small and mid-sized companies' exports...so it can achieve ten billion dollars in outbound shipments by 2030. Last but not least, Gangwon-do Province aims to utilize Yangyang International Airport to connect the region with countries in Northeast Asia. Committee members say what's more important than these plans is helping local cities and provinces when needed...emphasizing the role of related ministries as well.Ko Roon-hee, Arirang News.