Its plans include the reconstruction of Kaesong-Pyongyang highway and Kaesong-Sinuiju railway, a flood prevention project for Imjin-gang River and support for N. Korea’s fisheries industry through the Food and Agriculture Organization (FAO). (image: Bryan Hughes/flickr)
SEOUL, Aug. 20 (Korea Bizwire) – The South Korean government announced that it is willing to resume various inter-Korean projects such as reconstruction of highways and railroads in North Korea for the mutual economic cooperation within this year with one string attached: the restoration of inter-Korean relationship.
With the condition, South Korea added that it plans to resume the bilateral trade and the existing inter-Korean economic cooperation business, which stopped by the May 24 sanction in 2010 in the wake of the Navy corvette Cheonan disaster, and to launch new inter-Korean economic cooperation businesses step by step.
The Ministry of Unification of South Korea on Aug. 18 submitted the detailed policy implementation plans with such economic cooperation, according to the Basic Plan for Inter-Korean Relationship Development (2012-2017) to the National Assembly.
The South Korean government said that, first of all, it would consider resuming the inter-Korean economic cooperation and approving investments into North Korea if inter-Korean relations improve enough. Its plans include the reconstruction of Kaesong-Pyongyang highway and Kaesong-Sinuiju railway, a flood prevention project for Imjin-gang River and support for N. Korea’s fisheries industry through the Food and Agriculture Organization (FAO).
Although it attached a condition that inter-Korean relations improve enough, it is the first time for the South Korean government to present concrete plans for large-scale infrastructure investments in North Korea.
Besides, it will review the possibility of linking railroads between the two Koreas as a primary step for the “Silk Road Express,” while planning for the distribution revitalization method linking Busan in South Korea to Rajin in North Korea and further to Khasan in Russia.
Along with these plans, the South Korean government will seek to hold regular talks with high-ranking officials in order to address and solve pending issues lying between the two Koreas while at the same time constructing working level communications channels.
An official at the ministry said, “As well as our ministry, other 24 central governmental agencies joined in the planning, it is meaningful that the South Korean government presented the policy implementation plans to invigorate inter-Korean relationship. The plans will help us propel consistent North Korean policy.”
By John Choi (johnchoi@koreabizwire.com)
