Unification Minister Chung Dong-young said on the 9th that the government is actively considering lifting the "May 24 Measures," South Korea's unilateral sanctions against North Korea.
At a parliamentary questioning session on political, diplomatic, unification, and security affairs held at the National Assembly, Minister Chung stated, "During the Moon Jae-in administration in 2020, it was declared that 'the May 24 Measures have lost their effectiveness,' making them essentially meaningless." He added, "Formally lifting these measures carries significant symbolic meaning, and since inter-Korean trust has completely collapsed, we are actively reviewing measures to restore it."
The May 24 Measures were sanctions unilaterally imposed by the Lee Myung-bak administration following the Cheonan warship attack in 2010. Key provisions include the suspension of inter-Korean trade, prohibition of new investments in North Korea, and halting of aid projects to the North except for humanitarian assistance.
Minister Chung also responded to a proposal by Democratic Party lawmaker Park Jung to establish an "Energy, Peace, and Coexistence Cooperation Committee" for building inter-Korean trust. "This needs to be actively considered," he said. "How wonderful would it be if we could achieve cooperation such as joint use of the Han River estuary, or an arrangement where the North provides water and we send electricity in return?"