The direction and the characteristics of the economic cooperation between the South and the North Korea make a profound impact on Ganwon Province, which is the only divided province in Korean Peninsular. This study investigates the influences of the Second North-South Korea Summit Agreement on the economy of Ganwon Province and suggests the possible strategic responses of Gangwon province. We found that the Second Summit Agreement cast threats rather than opportunities to Gangwon Province. To cope with such adverse situation, Ganwon province, in a long-term perspective, has to develop the North-South Korea economic cooperation projects that both Gangwon Province and Korea as a whole can benefit from.