Main tasks for successful economic integration can be divided into 3 stages: Development, Implementation, and Integration.
In ‘Development’ stage, the main objective is to create a firm foundation for sustainable growth. We need to select and develop promising industries, re-establish railroad and harbor, open markets, and develop natural resources.
Implementing core system for market economy system will be the main challenge in ‘Implementation’ stage. It includes liberalizing price, privatizing properties, and adopting market system.
Lastly, in ‘Integration’ stage, the two different economic systems will be finally integrated. To do so, we need to integrate legislative system, infrastructure, and markets altogether.
It is also very important to study and benchmark successful cases of economic integration outside of Korea.