August 12, 2011 12:53
If South and North Korea are reunified 20 years from now, the cost of integration is estimated to range from US$51 billion to $229 billion. But the Unification Ministry on Thursday said it will cover only the first year of reunification, which means the total cost could be much higher.
Recent data released by Hyundai Research Group suggest that the economic benefits of reunification will outweigh the costs as South Korean capital and technology combines with cheap North Korean labor and rich natural resources, turning the reunified country into an economic powerhouse.
Last year, President Lee Myung-bak proposed a special tax to fund reunification.
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