SEOUL, Jan. 4 (Korea Bizwire) – The unification ministry said Thursday it has decided to dissolve the foundation in charge of assisting the operation of a now-shuttered joint industrial complex in North Korea’s border city of Kaesong amid frosty inter-Korean ties. The move came nearly eight years after South Korea shut down the industrial complex [...]
SEOUL, July 3 (Korea Bizwire) — When Shin Han-yong crossed the inter-Korean border into the North Korean city of Kaesong in 2018, he thought the opening of an inter-Korean liaison office could eventually lead to the resumption of a joint factory park. The liaison office in the western border city was a follow-up on an [...]
SEOUL, Jan. 1 (Korea Bizwire) – South Korean companies that had operated factories in the now-shuttered industrial complex in North Korea’s border city of Kaesong on Tuesday hailed the North Korean leader’s willingness to reopen the factory park. In his televised New Year speech early on Tuesday, North Korean leader Kim Jong-un said he is [...]
SEOUL, May 13 (Korea Bizwire) — A number of firms are making inquiries about the now-shuttered joint industrial complex in North Korea’s border city of Kaesong, industry sources said Sunday, as the two Koreas move to implement a set of agreements signed during their leaders’ historic summit last month. According to the insiders from a [...]
SEOUL, Nov. 13 (Korea Bizwire) – South Korean companies that operated factories at the now-shuttered joint industrial park in North Korea said Monday they will accept the tens of billions of won in compensation recently offered by the government, yet decided to seek additional support. On Friday, the government said it will provide compensation to hundreds of domestic companies who suffered losses [...]
SEOUL, Feb. 11 (Korea Bizwire) - South Korea said Thursday that it will come up with a set of measures to support its firms operating at a joint factory park in North Korea to help minimize any fallout from the shutdown. On Wednesday, the Seoul government announced that it will stop the operation of the factory [...]
SEOUL, Jan. 12 (Korea Bizwire) – South Korea said Tuesday it is not considering temporarily shutting down a joint industrial park in North Korea at this stage despite the North’s claimed successful test of a hydrogen bomb last week. The government has decided to limit the entry of South Korean nationals into Kaesong Industrial Complex [...]
SEOUL, Dec. 24 (Korea Bizwire) – South and North Korea have reached an agreement on the land use fee amount for South Korean firms operating a joint industrial park across the border, the Unification Ministry announced Thursday. The deal calls for South Korean firms at Kaesong Industrial Complex to pay US$0.64 per square meter every [...]