Although they say they do, the majority of South Koreans right now do not want reunification, as it would cause a lot of turmoil in their country.
We're looking at the time of Kim Young Sam, where there was still a high level of automatic "we want reunification!" mentality, so not really an issue.... for this scenario.
the Chinese would not want it under the South Korean system as they wouldn't want U.S. military forces along their border.
This is sort of a swing vote thing. Given that both Koreas are not under any treaty obligations like the Germanys, the opinion of PRC isn't that important at least in the mid 1990's. Furthermore, I would need to look at this, but the establishment of official relations between ROK and PRC in 1992 formally declared that PRC would support any moved towards reunification. At this point PRC does not have the influence it has in OTL 2000's.
Japan wouldn't want it either as it would be a threat to their economic hegemony.
Yes, but who are the Japanese to say anything in the mid 1990's?
But, North and South Korea's differences are far more vast than East and West Germany's were before the Berlin Wall was torn down in 1989, and thus Korean reunification is way more difficult and problematic than Germany's was.
A bit arguable. DPRK in the 1990's wasn't in as crappy a situation has it is in the 2000's, so if the right amount of investment was done while keeping the borders separate, there is still that chance to avoid the growing gap which happened in OTL. 1994~1996 was pretty much the last chance for a reunification on relatively "equal" grounds.