SEOUL, Feb. 23 (Korea Bizwire) — South Korean companies that operated factories at the now-shuttered joint industrial park in North Korea will ask the Seoul government next week to travel to the border city of Kaesong to inspect their facilities, a private task force representing the firms said Friday. They will submit the application to [...]
SEOUL, Dec. 29 (Korea Bizwire) – A private task force on Friday pressed the government to launch a probe into the shutdown of an inter-Korean joint factory park in North Korea. South Korea pulled the plug on the factory park in the North’s border city of Kaesong in February 2016 to punish the North for [...]
SEOUL, Sept. 28 (Korea Bizwire) – South Korea said Wednesday it has handed out 84 percent of support funds earmarked for local firms that operated factories in the now-shuttered joint industrial park in North Korea to help cover their financial losses. The government has offered 438.5 billion won (US$399.8 million) out of about 500 billion [...]
SEOUL, Aug. 10 (Korea Bizwire) – South Korea on Wednesday said it is nonsense to talk about reopening the now-shuttered joint industrial park with North Korea, as the communist country is continuing to move forward with its development of nuclear weapons and missiles. Six months ago, Seoul shut down the Kaesong Industrial Complex in the North’s [...]
SEOUL, June 1 (Korea Bizwire) – South Korean firms suffering months-long financial damage from the shutdown of a joint industrial complex in North Korea expressed discontent with the latest government support measures on Tuesday, saying the partial aid is not enough to compensate for their losses. Seoul shut down the Kaesong Industrial Complex in the North’s [...]
SEOUL, Feb. 10 (Korea Bizwire) – Seoul and Pyongyang are both anticipated to suffer repercussions from the latest decision to “completely shutdown” the operation of the joint industrial complex in the North Korean border city of Kaesong, industry watchers said Wednesday. On Wednesday, the South Korean government said it has decided to indefinitely suspend the [...]
SEOUL, Aug. 14 (Korea Bizwire) – North Korea’s decision to reset its standard time from this week could cause confusion for South Korean businessmen going to the Kaesong industrial complex in the North, with Pyongyang yet to explain any changes to entry rules, officials said Friday. Pyongyang had announced it is rolling back its standard [...]
SEOUL, May 3 (Korea Bizwire) — South Korea’s provincial governments Sunday unveiled plans to resume long-suspended aid to and exchange projects with North Korea under a new inter-Korean reconciliation policy by the Park Geun-hye government. Last week, the Ministry of Unification announced plans to promote inter-Korean exchanges in such areas as culture, sports and history to [...]
SEOUL, Jan. 19 (Korea Bizwire) — The overall earnings of ten South Korean companies that are operating in a jointly-run inter-Korean industrial complex have increased by an average of over 10 percent per year since 2005, data showed Monday, indicating that they have been doing relatively well despite political tensions that have emerged over the [...]