In this paper, the role of Pyeongyang in the integrated Korean peninsula in the future are suggested. It is assumed that the two Koreas are going to build a common market in the Korean peninsula in the future based on a fundamental reform and openness of the North. In the future, an integrated market could be realized in the Korean peninsula. An industrial belt along the western coastal corridor of the peninsula could be a spatial scheme though which the economically integrated Korean peninsula can be built. It could bring fundamental changes on current settlement structure in the Korean peninsula. The role of Pyeongyang in the Korean peninsula could be summarized as following. At first, Pyeongyang will enhance competitiveness of the North Korean region in the future based on human power and infrastructure. Also, Pyeongyang will form ‘Mega-Region’ in the Korean peninsula with Seoul metropolitan areas. In the future, ‘Mega-Region’ in the Korean peninsula based on Seoul-Pyeongyang region will be the most developed regions in the Korean peninsula. They can play a role of a global hub of exchanges of human resources and technologies. At the last, Pyeongyang will play an important role in economic cooperation in Northeast Asia as a new international city. The most important element in developing Pyeongyang as an international city to widen and deepen human exchanges with other cities in Northeast Asia. In order to take these roles in the Korean peninsula in the future, Pyeongyang should overcome some issues. At first, new leadership based on creativity and openness for city development is needed. Second, Seoul-Pyeongyang cooperation is needed. The role and tasks of Pyeongyang in the Korean peninsula suggested in this paper can not be realized without support and cooperation of South Korea. The experience of Seoul will be helpful to Pyeongyang to achieve new tasks in the future. Third, we should prepare the possibility of overconcentration of people on Pyeongyang because it could be a serious obstacles to the development of Pyeongyang in the future.