South Korea proposes three-stage reunification plan with North

New Delhi, Aug 15 (ANI): A three-stage reunification with the Democratic People's Republic of Korea (DPRK) has been proposed by South Korean President Lee Myung-bak on Sunday.

proposed a three-stage reunification with the Democratic People's Republic of Korea (DPRK), and.

Making the remarks at the celebration of the country's 65th National Liberation Day from Japan's 1910-45 colonial rule, Lee also called for called for developing new relationship with Japan.

Lee said that the current inter-Korean ties demand a new paradigm, and it is "imperative that the two sides choose coexistence instead of confrontation, progress instead of stagnation."

He proposed that Seoul and Pyongyang should build an inter- Korean "peace community" first to assure security and harmony on the Korean Peninsula, then work for an "economic community" for a comprehensive exchange and mutual prosperity. And after this, the two sides can establish a genuine "national community", Lee said.

Xinhua quoted Lee as saying that it's time for discussing substantive measures for the reunification of the two Koreas, such as a unification tax.

The country needs to consider the "unification tax" to prepare for the huge financial burden in case the two Koreas realize the reunification, Lee said.

According to a study by a parliamentary committee, Seoul is expected to bear about 1.3 trillion US dollars cost if the "two Koreas" are reunited.

However, Lee stressed that "what the most important thing at present is the denuclearization of the Korean Peninsula." (ANI)