South Korea’s new president offers North economic plan in return for denuclearisation

At his inauguration in Seoul, South Korea's president Yoon Suk-yeol offered North Korea economic support if it abandons its nuclear weapons. Photograph: Lee Jin-man/AP

South Korea’s new president, Yoon Suk-yeol, has offered North Korea “an audacious plan” to transform its creaking economy in return for abandoning its nuclear weapons programme.

Speaking on the first day of his presidency on Tuesday, Yoon said: “While North Korea’s nuclear weapon programmes are a threat not only to our security and that of North-east Asia, the door to dialogue will remain open so that we can peacefully resolve this threat.”