In the 1990s the two Koreas remain technically at war; neither side recognises the legitimacy of the other's existence, while their two armies continue to confront each other across the inter-Korean border. In addition there is continuing concern in the region and beyond that North Korea is seeking to acquire nuclear weapons. The North's nuclear program could spark a regional nuclear arms race or a war on the peninsula. This volume examines the evolving security situation on the Korean peninsula from the perspective both of the two Koreas and the other key regional actors - Russia, China, the US and Japan. Other chapters examine the political economy of Korean security, the nuclear weapons potential of South Korea's nuclear power program, and the debate over whether the regime in the North will collapse as a consequence of the growing economic crisis or gradually evolve into a more pluralist polity and economy.