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The article presents a reprint of the essay article "Obama Presidency and Prospects for Change on the Korean Peninsula," by Chung Jin-Young, which appeared in the November 2008 issue of "North Korean Economy." It discusses the promise of U.S. President Barack Obama to change the Korean Peninsula and North Korean policy. It also examines the effects of Obama's presidency on the Korean Peninsula.

The author reflects on the strategic cooperative partnership between Seoul of South Korea and Beijing of China. He asserts that the closer Seoul-Beijing relationship should not be allowed to compromise the Seoul-Washington alliance. He inflects that an adequate level of strategic ambiguity is needed in international relations to help strengthen a nation's independence and negotiating leverage.

Reports on the growing speculation that a second inter-Korean summit is imminent, despite official denial from the South Korean government. Conditions required for another inter-Korean summit; Speculation about when and where the summit would be held; Extent to which the prevailing conditions and circumstances are conducive for the holding of a second inter-Korean summit.