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1/3 of S.Korean Firms at Gaeseong Dissatisfied with Biz Conditions

Written: 2011-01-26 14:01:34Updated: 2011-01-26 15:24:14

1/3 of S.Korean Firms at Gaeseong Dissatisfied with Biz Conditions

A survey shows that many South Korean companies operating in the Gaeseong Industrial Complex in North Korea are dissatisfied with the current business environment amid strained inter-Korean relations.

According to a survey of 121 South Korean businesses operating at Gaeseong, only 33 percent of respondents said that they were satisfied with business conditions and activities.

Thirty-two percent expressed dissatisfaction and 35 percent expressed neither positive nor negative assessments.

The survey was conducted by a think tank affiliated with the Korea Industrial Complex Corporation from October first to the 15th of last year.

Forty-four percent cited inter-Korean political and military tensions as the biggest obstacles to doing business. Other obstacles cited include uncertainties in North Korea, restrictions on cross-border transport and limits on number of South Korean employees allowed to stay in the complex.

As a way to ensure the success of the industrial park, 66 percent of respondents urged Seoul to lift regulations related to cross-border passages and stationing of South Koreans in the complex, while 52 percent called for the easing of political and military tensions between the two Koreas.

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