DOWNLOAD OUR APP
IndiaOnline playstore
09:13 AM | Wed, 27 Jul 2016

Download Our Mobile App

Download Font

Seoul begins closing inter-Korean industrial complex

166 Days ago

korea 11216

Seoul: South Korea began pulling its nationals out of an inter-Korean industrial complex on Thursday, which is located just across the North Korean border. South Korea decided to shut down the Kaesong Industrial Complex, the last remaining symbol of inter-Korean co-operation, where a total of 124 South Korean firms are operating, EFE news reported.

"As North Korea has given its consent to Seoul's plan to remove its people from there, South Koreans staying there are able to smoothly enter and exit the complex," a Unification Ministry official said.

Seoul's decision, considered its strongest non-military measure, aims at cutting off the North Korean source of hard currency. It comes on the same day as the US Senate approved a bill to impose sanctions in response to the North's launch of a satellite on Sunday, which many countries consider a disguised ballistic missile test.

Committees of the two Koreas in charge of running the industrial complex plan to hold talks over the suspension of the factory zone, including the removal of equipment.

"We plan to retrieve South Korean companies' equipment and finished products, but there should be discussions over this with North Korea," a ministry official said. South Korean companies pay about $100 million in total to North Korean workers for wages every year.  (IANS)

Viewed 74 times
  • SHARE THIS
  • TWEET THIS
  • SHARE THIS
  • E-mail
You might also want to read

Our Media Partners

app banner

REVOLUTIONARY ONE-STOP ALL-IN-1 MARKETING & BUSINESS SOLUTIONS

  • Digital Marketing
  • Website Designing
  • SMS Marketing
  • Catalogue Designing & Distribution
  • Branding
  • Offers Promotions
  • Manpower Hiring
  • Dealers
    Retail Shops
    Online Sellers

  • Distributors
    Wholesalers
    Manufacturers

  • Hotels
    Restaurants
    Entertainment

  • Doctors
    Chemists
    Hospitals

  • Agencies
    Brokers
    Consultants

  • Coaching Centres
    Hobby Classes
    Institutes

  • All types of
    Small & Medium
    Businesses

  • All types of
    Service
    Providers

FIND OUT MORE