President Lee Myung-bak proposed a “grand bargain” on the North Korean nuclear issue during his visit to New York.

The package deal entails dismantling key aspects of North Korea’s nuclear program through the six-party talks and at the same time providing the North with a security guarantee and international aid.

Speaking at a luncheon hosted by The Korea Society and the Council on Foreign Relations early Tuesday morning Korea time, the president called for a fundamental and comprehensive approach to resolving the nuclear issue.

He then urged Pyongyang not to misunderstand such a process as a threat to or besiegement of its regime.

He said that over the past 20 years, concerned parties have compromised with the North on a nuclear freeze and compensation without pressing for complete nuclear dismantlement, allowing Pyongyang to violate accords and revert back to square one.