The risks of political tensions and military confrontation and war in the Northeast Asian region, triggered by North Korea in particular, has been a critical gap in an otherwise productive network of dynamic regional economic growth. However, this year, the milestone summit between US President Donald Trump and North Korean Leader Kim Jong Eun has resulted in a dramatic change on the Korean Peninsular, prompting greater need for the region to strengthen ties and find mutually beneficial ways to handle tasks ahead.
   Toward this end, the KIEP–NEAEF collaborative project seeks to fulfill the need for timely and forward-looking research and meeting activities by focusing on critical issues, such as 1) discussion and emphasis on connectivity in cross border infrastructure developments involving North Korea as an integral part of a broader regional economic community in Northeast Asia, and 2) revisiting the design and establishment of a Northeast Asia Bank for Cooperation and Development (NEABCD) in the context of economic cooperation and integration in the Korean Peninsula.
   This volume in the series of proceedings volumes is titled “Momentum for Building a Northeast Asian Economic Community: Emerging Challenges and Opportunities” and comprises summaries of research presentations and discussions at the planning meeting in Honolulu, at the 27th Annual Conference of the Northeast Asia Economic Forum in Sendai, Japan, and at the Honolulu Ad Hoc Group Meeting on Financial Cooperation in Northeast Asia in 2018. The results of this project represent activities that have been contributing to economic dialogues, interactions, and research on common issues for cross-border future economic cooperation in the region, which involves North Korea.
   KIEP is grateful to Dr. Lee-Jay Cho, Chairman of NEAEF, for his leadership in implementing the project, and to the authors of the presentations, conference participants and discussants who contributed to this volume.
   Drs. Lee-Jay Cho and Hyung-Gon Jeong would like to extend their appreciation to the NEAEF staff for their assistance in the course of the successful implementation of this project, and to Drs. Karla Fallon and Kennon Breazeale for their editorial review and editing of this volume. 

Preface

Contributors

Introduction and Overview
     Lee-Jay Cho

Statements by Country Representatives and Keynote Address

  Country Representative Statement: South Korea
     Kwan-Young Park

  Country Representative Statement: China
     Wang Shuzu

  Country Representative Statement: United States
     George Ariyoshi

  Country Representative Statement: Russia
     Pavel Minakir

  Country Representative Statement: Mongolia
     Ganbold Baasanjav

  Keynote Address
     Nikai Toshihiro

Part I. Building a Northeast Asia Economic Community and Its Extended Regions

  Promoting International Cooperation in Industrial Finance, Propelling High-quality Development of an Asian Economy
     Zhao Xianfeng

  Northeast Asia Economic Community Formation and the Role of the Russian Far East
     Sergei Sevastianov

Part II. Cross-border Infrastructure and Special Economic Zones in Northeast Asia

  Cross-border Infrastructure and Special Economic Zones in Northeast Asia: Politically Holding Hands and Economically Going Underground
     Anthony Michell

  Logistic Connectivity for Northeast Asia
     Inoue Satoshi

  Cross-border Infrastructure in Northeast Asia: Transport and Energy
     Sangmin Nam

Part III. Financial Cooperation in Northeast Asia

  Financial Cooperation in Northeast Asia: Current Trends and Opportunities
     Maeda Tadashi

  A Review of the Asian Infrastructure Investment Bank
     Stanley Katz

  Establishment of the NEADB to Support North Korea’s Economic Development
     Jai-Min Lee

Part IV. Energy and Environment in Northeast Asia

  Trends in Energy Transformation and Policy
     Iinuma Yoshiki

  Perspective from the United States: Update on US Energy Policy and Technology
     Terry Surles

  Perspective from Korea: New Paradigm for Korean Energy Transition and Policy
     Haksik Yoo

  Perspective from Japan: Energy Trends and Policy and Northeast Asia Cooperation
     Tanabe Yasuo

Part V. Tourism Cooperation in Northeast Asia

  Border Tourism in Northeast Asia
     Iwashita Akihiro

  Increasing Tourism through Integrated Resorts—Tourism and Gaming in Northeast Asia
     S. Ray Cho and Brendan Bussmann

  Current Status and Challenges of Japan’s Inbound Tourism Boom: Evidence from Japan’s City-level Data
     Konishi Yoko

  Latest Market Trends: Visitors to Japan
     Tsuboi Yasukiro

Part VI. Panel Discussion on Natural Disaster and Regional Cooperation

  Summary of Panel Discussion on Natural Disaster and Regional Cooperation

Part VII. The Honolulu Ad Hoc Group Meeting on Financial Cooperation in Northeast Asia: Proposal for the Northeast Asia Bank for Cooperation and Development (NEABCD) Revisited

  Review of Current Situation and Recent Developments in Northeast Asia Regional Cooperation Relevant to Financial Cooperation Opening Remarks
     Kwan Yong Park

  Recent Developments and NEABCD
     Stanley Katz

  Perspective from Japan
     Maeda Tadashi

  Perspective from Korea
     Jae Hyung Hong

  Perspective from China
     Liu Ming and Zhang Jianping

  Perspective from the United States
     Mead Treadwell

  Commentary
     Inessa Love

Role and Justification: Why Is the NEABCD Necessary to Meet NEA Financing and Technical Assistance Needs?

  Overview 
     Lee-Jay Cho and Stanley Katz

  A Review of the Ad Hoc Committee on the NEABCD and the Brief on the Establishment of the NEABCD
     Liu Ming

  Recommendations of the Study on the Establishment of the Northeast Asian Development Bank: The Tokyo Foundation Draft
     Chiba Yasuhiro

  Update on Northeast China and Efforts Toward an NEABCD
     Liu Lanbiao

  Strategies, Future Plans, and Activities Establishment of the NEADB to Support North Korea’s Economic Development
     Jai-Min Lee

  Promoting the Northeast Asia Development Bank
     Zou Lixing

  Promoting Financial Cooperation  in Northeast Asia
     Li Zheguang

  The NEADB: Securing the Attention of the United States
     Mead Treadwell

  The NEADB: Considerations and Recommendations for Energy
     Terry Surles

Appendices