President Warns Against Possible Shutdown of Gaeseong Complex

Write : 2013-04-09 13:53:12 Update : 2013-04-10 09:53:37

President Warns Against Possible Shutdown of Gaeseong Complex

Anchor: President Park Geun-hye responded to North Korea's temporary suspension of the Gaeseong Industrial Complex, calling the move, “very disappointing.” She said no country would invest in North Korea if it takes further action and completely shuts down the inter-Korean joint venture.
Jang Souie has this report.

Report: President Park Geun-hye has expressed great disappointment regarding North Korea’s temporary suspension of the Gaeseong Industrial Complex.

At a Cabinet meeting on Tuesday, she criticized Pyongyang, saying it should “halt wrong behavior and make the right choice for the sake of the entire future of the Korean People." Park also expressed her determination to sternly respond to North Korea’s threats, saying she will not tolerate the vicious cycle of North Korea creating crises for compromise and aid.

She then stressed that if the normal operation of the complex is threatened, the inter-Korean Cooperation Fund will be used to make up losses suffered by South Korean firms with factories in Gaeseong. She warned that this will only lead to less spending for cooperation between the two Koreas.

The president also warned against the complete shut down of the Gaeseong facility, which would create losses of more than one-point-three trillion won. She argued that no country would invest in North Korea if it breaches international regulations and promises, and shuts down the last remaining inter-Korean business venture.

North Korea experts say the damage from a full shut down would also affect North Korea's business prospects with its special economic zones. They say the zones on Hwanggeumpyeong Island, Wihwa Island, and Rason City that the North is developing with China are grounded in Pyongyang's experience from the inter-Korean business venture at Gaeseong.

Jang Souie, KBS World Radio News.

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