Regions

NoKor, SoKor agree on reopening of Kaesong industrial park on trial basis

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September 14
6:21 AM 2013

The Unification Ministry of South Korea announced that the two Koreas had agreed to resume the operations of the Kaesong Industrial Park on a trial basis beginning Monday. A Reuters report saw the move as a further sign of improvement in the relations between two countries even if they are still technically at war.

It can be recalled that the industrial zone got shuttered when Pyongyang pulled out its workers after tensions rose between the two Koreas in April. Tensions rose when North Korea threatened to launch nuclear weapons in Seoul after it engaged in joint military exercises with the US. North Korea called the joint exercise as "provocative."

The Unification Ministry also said that the two Koreas would seek to lure foreign investors to the zone. Moreover, the factories in Kaesong would also be tax-exempt for the rest of 2013 so they could compensate for losses when the zone got shuttered.

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