North Korea was formally admitted as the 23rd member of the ARF at its meeting in Bangkok in July 2000. Until then, North Korea was the only country covered by the geographical footprint of the ARF which was not a member. Hyundai, ROK’s foremost chaebol or conglomerate whose founder, Chung Ju-yung, was born in North Korea, was in the center of this controversy. Its multi-million business deals with North Korea were associated with the Summit, i.e., the Summit was “bought”. Diplomacy appears to be the key to the peaceful resolution of the problem on the Korean Peninsula.

Source: Manila Times September 22, 2017 17:48 UTC