President Yoon Suk-yeol detailed an extensive blueprint of development for North Korea should it surrender its nuclear ambitions.
The plan was shared during a speech to mark Liberation Day on Monday.
Our Presidential Office Correspondent Yoon Jung-min reports.
South Korea must improve relations with Japan by overcoming historical disputes and achieve peace with North Korea as key steps towards boosting the stability and security of Northeast Asia and beyond.
That's President Yoon Suk-yeol as he spoke at a ceremony on Monday marking 77 years since Korea's liberation from Japan's 1910 to 1945 colonial rule.
"I, here, propose audacious initiative in stages that could significantly improve North Korea's economy and its people's livelihoods if the North ceases the development of its nuclear program and embarks on a genuine and substantive process for denuclearization."
Among the proposed were a large-scale food program, ways to enhance agricultural productivity and foreign investment which Seoul's top office call a bold action.
"It's a bold proposal as it actively seeks economic support measures for the regime at an early stage if North Korea returns to the denuclearization talks with sincerity."
The South Korean leader also took the occasion to make clear of his intention to improve Seoul-Tokyo ties one that have been at a record low over disputes such as Japan's wartime sexual enslavement of Korean women and the use of forced labor.
"We must swiftly improve Korea-Japan relations by upholding the Kim Dae-jung-Obuchi Declaration, a blueprint for a comprehensive future for bilateral relations. Based on mutual respect, the two countries and people must contribute to the peace and prosperity of the international community through extensive cooperation on economy, security, social and cultural exchanges."
Addressing the public with only two days left until his one hundredth day in office, the South Korean leader also touched upon economic tasks that lie ahead ranging from the immediate task of compensating for last week's flood damage to long-term plans such as belt-tightening in the public sector and regulatory reform.
Yoon Jung-min, Arirang News.