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There would be strong regional opposition to a war in North Korea. Despite all the talk, the rest of the Arabian Peninsula didn't really have a big problem with us going into Iraq (as evidenced by the fact that our bases are in most of the other Arabian countries).
Further there are other powers in the region that we can reasonably expect to be capable of curtailing any North Korean aggression. Unlike Iraq, which listened to no one (though Russia tried) North Korea can not realistically completely isolate itself. This is why we insisted that any negotiations had to include China.
Further, North Korea already has the nuclear material necessary to create bombs. There is a huge difference between attacking a country to prevent acquisition (as with Iraq) and attacking to take it away.
Further, despite being bat-**** insane, North Korea has a 50-year track record of not actually making any attempts at territorial expansion (unlike Iraq) and while it has ties with terrorism they have mostly been regional and not directed at the United States (Japan has a lot more reason to worry about attack than we do).
So maybe the reason we're not invading North Korea is because, despite the ability to make a bulletted list showing similarities they are actually different situations.
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