Friday, February 10, 2017

THREATS FROM NORTH KOREA: Halt of joint complex damaged North

South Korea says that the suspension of operations at the Kaesong Industrial Complex dealt a blow to that country's leadership.

Last year, President Park Geun-hye's administration completely halted the operation of the Kaesong Industrial Complex following the North's nuclear and long-range ballistic missile tests.

South Korea's Unification Ministry says the suspension reduced the value of North Korea's imports and exports to 333 million dollars, or one-9th the figure in the previous year. South Korean companies operating there used to pay more than 100 million dollars annually to North Korean workers. Much of the money is believed to have gone to the country's leadership.

The Unification Ministry also said that the cut in the flow of foreign currency dealt a major blow to the Kim Jong Un regime.

It also said the instances of travel between the 2 countries dropped to 13,000, one-tenth the level in the previous year. Some people worry that the rift between the 2 sides may widen further. The issue of the joint industrial park could become a focus in this year's coming presidential election.

Source: NHK World

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