By: Peter Pae of Bloomberg
South Korean President Moon Jae-in said that any military action against Kim Jong Un’s regime requires his nation’s approval, and vowed to prevent war at all costs.
“There will be no war repeated on the Korean Peninsula,” Moon said in a speech on Tuesday marking the anniversary of the end of Japanese occupation in the 1940s. Military action against North Korea should be decided by “ourselves and not by anyone else,” he said.
While Moon said that South Korea would work with the U.S. to counter security threats, he emphasized the need to focus on diplomatic efforts. Sanctions were designed to bring North Korea to the negotiating table over its nuclear and missile weapons programs, he said.
The comments from a key U.S. ally contrast with the threats of war coming from President Donald Trump, who vowed to unleash “fire and fury” on Pyongyang if Kim persists with advancements in his arsenal, particularly intercontinental ballistic missiles. Trump’s rhetoric has raised concerns that a miscalculation — or unilateral action by the U.S. — could spark a military conflict that risks devastating North Korea’s neighbors.
The diminishing prospects of war have helped equities to rally. Stock indexes from Tokyo to Hong Kong to Sydney climbed on Tuesday after the S&P 500 Index surged 1 percent, while havens such as gold, Treasuries and the yen retreated.
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