The anthology discusses the formula of a «grand bargain» to denuclearize the Korean peninsula. Scholars from the US, South Korea, China, Russia and the former UK ambassador Everard review recent historical developments and political objectives and constraints of the DPRK regime. They also analyse the geopolitical situation in Northeast Asia from the perspective of China, Russia and South Korea. The book offers a multifaceted analysis of a pressing policy issue. The proposal is to offer security guarantees and substantial financial support for opening North Korea’s economy and taking verifiable steps towards denuclearization. Sanctions would be a last resort in case North Korea fails to denuclearize.