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German Companies Hope to Do Business in N. Korea

Written: 2004-03-19 00:00:00Updated: 0000-00-00 00:00:00

Sources in Berlin say a number of German companies hope to establish their businesses in North Korea.

A German business official said several companies have high expectations of building factories in the Gaesong complex to manufacture goods for shipment to third countries.

The official said the companies have recently sent official documents to South Korea, as well, to inquire about the South's stance on the entry of German companies into the North's industrial complex as well as the necessary procedures for setting up shop there.

South Korea is building the mammoth industrial complex in the North's border city for South Korean labor intensive manufacturing plants, which will take advantage of the North's inexpensive labor. The project is part of landmark agreements signed at June 2000 South-North summit talks.

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