The government has paid two South Korean companies five-point-five billion won in insurance money for their operations being shut down at the Gaeseong Industrial Complex in North Korea.
 
The Export-Import Bank of Korea said it paid the sum Thursday after deliberation on the companies’ claims. The payment was also made in line with a standard set by the South and North Exchange and Cooperation Promotion Council.
 
An official of an association of South Korean firms said most of the companies with suspended operations at Gaeseong are likely to postpone receiving insurance money since the two Koreas have agreed to hold talks next week to normalize the shuttered industrial park. But the official said a few companies hit hard financially by the suspension of operations are expected to promptly collect insurance.
 
Earlier on Wednesday, the government announced that it will provide roughly 280 billion won in insurance to 109 out of a total of 123 South Korean firms that have facilities at the joint venture.