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Inter-Korea

Gaesong Park Wants to Invite Foreign Buyers

Written: 2005-03-29 10:31:18Updated: 0000-00-00 00:00:00

South Korean firms at the Gaesong industrial complex in North Korea have requested the swift resolution of a number of problems with doing business in the industrial park.

The heads of the 15 companies to operate in the industrial park met in the North Korean border city Monday and conveyed the request to the South Korean government, developers of the Gaesong project and the management committee of the complex.

The firms stressed the need to streamline entry and exit procedures, expand investment guarantees, swiftly complete the establishment of various facilities and invite foreign buyers to the industrial park.

In response, the South's management committee said it is currently negotiating the firms' requests with North Korean authorities.

Monday's meeting was the first such gathering since production started in recent months at the industrial complex located just north of the inter-Korean border.

Among the 15 companies that are scheduled to start operations in the park by the end of June, four have already finished building factories.

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