Gov't to Ensure Continuity of Inter-Korean Economic Projects

  • By Lee Yong-soo

    July 18, 2018 13:18

    The Unification Ministry said Tuesday it will revise laws so that future administrations find it harder to scrap inter-Korean economic projects and exchanges.

    In future, halting projects like the inter-Korean Kaesong Industrial Complex and package tours to the North's Mt. Kumgang will require both Cabinet and National Assembly audits.

    But the government also wants more oversight in ongoing projects. Should production resume at the Kaesong industrial park, investments of up to US$500,000 will require government authorization.

    The proposal singles out only four reasons that would warrant a halt -- unreasonable burdens or limitations imposed by North Korea, threats to the safety of South Korean citizens due to North Korean provocations, the need for the South to participate in international efforts, and clear violations of cross-border agreements.

    Asked by reporters whether easing sanctions against the North will also require Cabinet review, a Unification Ministry official said that can be done through the relevant sub-committees as necessary.

    In other words, the ministry intends to make it easier to lift sanctions against the North but more difficult to halt cross-border projects once they are underway.

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