The November issue offers a synthesized assessment of the evolution of inter-Korean economic cooperation and the policy context shaping current approaches toward North Korea. Noting that cooperation has long been constrained by a structural cycle of “despair and contrivance,” the issue highlights that future progress will depend on realistic expectations of North Korea’s policy trajectory, a cross-party consensus on North Korea policy, strategic project design aligned with future needs, and a principled approach to engagement. It also reviews current debates on economic involvement with the North and evaluates the Lee Jae Myung administration’s tension-management strategy, observing that Pyongyang’s “two-state” declaration, its tightening alignment with Russia, and the persistence of international sanctions sharply limit near-term prospects. In this environment, policy efforts are expected to center on sustaining humanitarian channels, strengthening legal and institutional foundations, and preparing the groundwork for a future peace-economy framework, alongside building mid- to long-term policy capacity for potential shifts in geopolitical conditions. Overall, the issue provides a balanced view of the constraints and possible avenues for inter-Korean economic cooperation amid strained inter-Korean relations, offering policy insights for building a more sustainable framework for engagement.