“Business for Peace” (B4P): can this new global governance paradigm of the United Nations Global Compact bring some peace and stability to the Korean peninsula?
Based on:
Journal Article (2019)
Is there a way to bring some peace and stability to the Korean peninsula with the power of business? I argue it is possible, and the article outlines the way forward.
Brief by:
Research collaborators:
The UN global compact is an initiative that encompasses 15,000 companies across 160 countries. Its main goal is to advance human rights using the power of business. For the past 20 years, we have been witnessing a paradigm shift. Traditionally, the assumption was that what’s good for business is good for society. However, most companies I work with nowadays say that what’s good for society is good for business. This article looks at the Kaesong Industrial complex, a complex for business and companies set up in 2002, and asks the question of whether it can help foster human rights and peace between North and South Korea. The project has been halted since the use of nuclear weapons by North Korea, and the article grapples with what the best way forward is.
Key findings
North Korea also stands to benefit from the economic activity and stability provided by the Kaesong industrial complex
Proposed action
When working in a conflict ridden areas, you have to work in stages, with an incremental approach
This staging process needs to be used to build trust. You need to use a reciprocal approach
The conflict area needs to take transparent steps to advance human rights
A good example is Burma (Myanmar)
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Acknowledgements
Thank you to ASEAN
These insights were made available thanks to the support of ASEAN, who are committed to the dissemination of knowledge for all.
Special thanks to Antoine Germain for preparation assistance
We would like to extend a special thank you to Antoine Germain, for their invaluable contribution in assisting the preparation of this research summary.
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“Business for Peace” (B4P): can this new global governance paradigm of the United Nations Global Compact bring some peace and stability to the Korean peninsula?
Cite this brief: Williams, Oliver. '“Business for Peace” (B4P): can this new global governance paradigm of the United Nations Global Compact bring some peace and stability to the Korean peninsula?'. Acume. https://www.acume.org/r/business-for-peace-b4p-can-this-new-global-governance-paradigm-of-the-united-nations-global-compact-bring-some-peace-and-stability-to-the-korean-peninsula/
Brief created by: Professor Oliver Williams | Year brief made:
Original research:
- S. Y.-S. P., & Williams, O., ‘Business for Peace” (B4P): can this new global governance paradigm of the United Nations Global Compact bring some peace and stability to the Korean peninsula?’ 8 (pp. 173–193) https://doi.org/10.1007/s13520-019-00093-4. – https://link.springer.com/article/10.1007/s13520-019-00093-4
Research brief:
Is there a way to bring some peace and stability to the Korean peninsula with the power of business? I argue it is possible, and the article outlines the way forward.
The UN global compact is an initiative that encompasses 15,000 companies across 160 countries. Its main goal is to advance human rights using the power of business. For the past 20 years, we have been witnessing a paradigm shift. Traditionally, the assumption was that what’s good for business is good for society. However, most companies I work with nowadays say that what’s good for society is good for business. This article looks at the Kaesong Industrial complex, a complex for business and companies set up in 2002, and asks the question of whether it can help foster human rights and peace between North and South Korea. The project has been halted since the use of nuclear weapons by North Korea, and the article grapples with what the best way forward is.
Findings:
North Korea also stands to benefit from the economic activity and stability provided by the Kaesong industrial complex
Advice:
When working in a conflict ridden areas, you have to work in stages, with an incremental approach
- Its not going to work in you say to North Korean for example “Before we can negotiate, you have to give up all nuclear weapons programmes”.
This staging process needs to be used to build trust. You need to use a reciprocal approach
- “You do a little, we do a little”.
The conflict area needs to take transparent steps to advance human rights
- They need to be incremental, but also transparent, so that progress can be monitored and there can be accountability.
A good example is Burma (Myanmar)
- After the military dictatorship was overthrown, we encouraged companies to go in and do business, both because there were plentiful available resources and because we thought it would be good for the society. There were no indications that the military government would return, but when they did, most companies left. Still, it was a good attempt, and that’s the main takeaway. It’s a good idea to try having companies do business in any conflict ridden part of the world.