The government says the repair of a railway and a highway will cost up to 730 billion won.

Finance Minister Kwon O-kyu told a forum Wednesday that inter-Korean economic cooperation projects agreed on at last week’s summit will be pursued without extra burdens on the South Korean state budget.

As part of the follow-up to the summit, South Korea plans to repair a railway between Gaesong and Pyeongsan and a highway linking Gaesong and Pyongyang.

Kwon said inter-Korean business projects such as new joint ventures and tourism development at Mount Baekdu could be financed by private firms.

He also said the government will fully support infrastructure building in the North to facilitate private investment in such projects.