Move-in to the Million Pyŏng of the Gaesung Industrial Complex Next Year

A model complex that the Korea Land Cooperation and the Hyndai-Asan is constructing in the Gaesung industrial complex which is about ten thousand pyŏng large is going to be finished until the end of June. Accordingly, it seems South Korean enterprises will move into the complex and start producing goods at the end of this year.

In addition, in the case of the one million pyŏng Gaesung industrial complex, South Korean businesses will move in there gradually and adjust to a schedule of completion of inner base facilities as their first step.

The two Koreas announced an agreed upon statement consisted of seven clauses with such consents as the main points of their meeting. This was released after finishing the eighth Inter-Korean Economic Cooperation and Promotion Committee meeting which lasted four days in the Grand Hilton hotel in Hong-eun dong, Seoul on March 5.

At this meeting, the South came to an agreement to supply electrical and phone equipment for commercial purposes in order to help the production of the companies who move into the complex. An official of the Ministry of Unification explained that, “The companies who move into the Gaesung industrial complex will use electricity produced by the South as well as electrical lines, and then will pay for the costs.”

The two Koreas also agreed to start a spot survey before April of an upper stream of the Yimjin River in the northern area in order to dam the regular flood of the river for the preparation of the rainy season and also to offer flood prevention facilities as well as young trees for preventing floods.

The South and the North also agreed to run a conference office for economic cooperation which will help direct transactions between two nations. With the completion of a conference office at the complex it will became unnecessary to use other countries, such as China, for an economic consulting cooperation.

In the case of Kyonguisun, connecting the construction of roads between the two nations, the date of an opening ceremony was not confirmed as the North only promised to “finish the pavement work on the North Korean section as soon as possible” while the South urged to have an opening ceremony around June 15, which is the fourth anniversary of the Inter-Korea Summit Talks.

Seung-Ryun Kim srkim@donga.com