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Northeast Asia is notable for the relative absence of regional institutions. The Six Party Talks could constitute an embryonic starting point for the development of such institutions. The path toward greater institutionalization is likely to begin in a modest fashion. Functional working groups on topics such as the environment, maritime transport, technical barriers to trade, road and rail links, and energy could provide the locus for integrating North Korea into the broader regional and global economies. Foreign ministries will inevitably take the lead in developing the Northeast Asia Peace and Security Mechanism (NEAPSM), but meaningful economic achievements will require the involvement of other ministries. North Korea has proved problematic in this regard thus far. Moreover, given the importance of private-sector involvement in achieving sustainable economic development in North Korea, modalities will have to be developed to integrate private-sector actors when possible. The governments of the region, and particularly China and South Korea, may continue support on a bilateral basis as a hedge against North Korea's collapse or as inducements in the context of the nuclear talks. But the development of more permanent multilateral structures is unlikely until the nuclear issue is resolved. [ABSTRACT FROM AUTHOR]