Who wins a new Korean War?

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If we have a full nuclear war, everyone loses, but if we have a conventional or tactical nuclear war with N. Korea, who wins? I’m thinking China.

Both North and South Korea would be in shambles.  Whether China fights us directly or not, they would have to intervene in order to restore order in the peninsula. China could then solve their Korea problem by taking over at least N. Korea as they did Tibet and absorbing it into what amounts to their modern Chinese empire. Afterwards they might push for a Hong-Kong style reunification of North and South.

No other world power has the resources to remake Korea and I think China is positioned to do just that.

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