Business circles to set up plan for S-N coop

The business circle plans to set up a master plan for inter-Korean economic cooperation.

With the invigoration of the South-North economic cooperation involving the agreed conclusion of pacts on investment guarantee and the avoidance of double taxation, the business sector plans to map out a master plan involving an action program for the implementation of suitable inter-Korean ventures.

Sohn Byung-Doo, executive deputy chairman of the Federation of Korean Industries (FKI), said Wednesday that the FKI and heads of the private research institutes held a meeting and reached an agreement to draw up a comprehensive plan for the implementation of practical inter-Korean projects in industry.

Noting that inter-Korean projects have been undertaken on an individual basis, and have not been promoted by the FKI, Sohn asserted that the time has come when the industrial sector will have to provide a master plan of its own, with the rapid developments in inter-Korean relations.

He went on to say that the comprehensive plan will include the selection of the most suitable projects in accordance with the seasons and kinds of businesses and that the plan will be distributed to the affiliated business firms across the country for their reference.