Chairman of the ruling Uri Party Lee Boo-young, currently visiting Japan, says South Korea, the U.S. and Japan are capable of cooperating with North Korea through trilateral efforts.

Lee told reporters in Tokyo on Thursday he expects North Korea will eventually accept the common values of democracy and a free market system.

The Uri chairman also called on Japan to take on a leading role in resolving North Korea's nuclear standoff and helping to establish peace and stability on the Korean Peninsula. Lee said he hoped for a swift resolution of the ongoing dispute between Tokyo and Pyongyang over the Japanese abductee issue as well as a swift normalization of diplomatic relations between the two countries.

Lee also mentioned Uri Party efforts to pass legislation on investigations into Korea's modern history, saying the law was aimed at setting straight the distorted history of the Japanese colonial era, and not at punishing individuals.