"The fact that exchanges and cooperation are a shortcut to peace is a timeless lesson demonstrated by the history of fraught inter-Korean relations," Lee said in his speech. "By gradually expanding inter-Korean exchanges and cooperation, we will pave the way for sustainable peace on the Korean Peninsula." Lee, a liberal president who was inaugurated in June, proposed a new initiative that involves inter-Korean exchange, normalization of ties and denuclearization to end inter-Korean hostility. He underscored that South Korea would respect the North’s system, would not seek unification by absorption, and had no intention of engaging in hostile acts. In his policy address on Sunday, Kim unequivocally reiterated that North Korea would never relinquish its nuclear arsenal.