The South Korean President on Friday said Seoul and Pyongyang will be able to move towards an “economic community” once the denuclearization of the peninsula has taken place.

During his address at the annual Singapore Lecture, President Moon Jae-in said he hopes to turn South Korea into a country “that can put bold thoughts into practice” through economic cooperation with the DPRK, which he described as a “unique opportunity.”

“Building on complete denuclearization and peace on the Korean peninsula, South Korea will draw up a new economic map,” Moon said.

“Both Koreas will press on towards an economic community.