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N. Korea Scraps Laws on Inter-Korean Economic Cooperation

News2024-02-08
N. Korea Scraps Laws on Inter-Korean Economic Cooperation

North Korea’s Supreme People’s Assembly has reportedly voted to scrap laws and agreements signed with South Korea to promote inter-Korean economic cooperation.

The North’s state Korean Central News Agency(KCNA) reported on Thursday that the assembly made the move in a plenary session at the Mansudae Assembly Hall in Pyongyang the previous day. 

The rubber-stamp parliament voted to abolish the law governing economic ties with Seoul, the special law on the operation of the Mount Geumgang tourism project and related regulations for its enforcement, and agreements on inter-Korean economic cooperation.

The law on inter-Korean economic cooperation, adopted in 2005, is considered a basic framework for such cooperation, while the law on the special zone in Mount Geumgang, adopted in 2011, stipulates details on investments in the area by South Korea and overseas entities.

This unilateral move comes after North Korean leader Kim Jong-un defined inter-Korean ties as relations between "two states at war” during a year-end meeting of the Workers’ Party.

[Photo : YONHAP News]

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