Cooling Off In The Koreas

Even amid the Lee Seoki-ki scandal, North Korea and South Korea have worked to successfully reopen the Kaesong Industrial Complex (KIC). It is a sign that the two countries’ springtime flames of conflict have abated.

On April 3,  2013, work at the KIC came to a halt when Kim Jong-un’s regime, looking to rattle its opponents, banned South Korean workers from the expansive commercial plant. Five months later, the reopening of this symbol of cross-border cooperation offers hope for further progress.

According to South Korea’s Ministry of Unification, in reopening the complex of 53, 000 North Korean workers and 123 South Korean businesses, two major agreements were reached:

KIC-housed companies would be exempt from taxes imposed for this year’s operations.

An international investors information session will be held to attract foreign companies.

Although the whimsical leadership of the Democratic People’s Republic of Korea leaves all bilateral policies on tenuous ground, it’s clear things are better today then they were in the fires of April.
General Source:

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