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Officials from the Korea Land Corporation, who visited North Korea for consultations on the Kaesong Industrial Complex, said Friday that Pyongyang had notified them that the area of the site for development had been reduced from 66.6 million square meters to 48.5 million square meters. They said the reason for this was due to the presence of military facilities and unfavorable land conditions, and Hyundai Asan was requesting additional space at another site to compensate for the loss.
The contract between the North and Hyundai, signed in August 2000, specified the site to be made up of a 24 million square meters for industrial development and the remaining 42.6 million to be used as residential and support facilities.
The officials said North Korea changed phase one of the plan for developing 3.3 million square meters south of Bondong Station to the north of the facility, as more land was needed. They noted that a new development plan will have to be formulated over a substantial period of time, leading to a considerable delay.
(You Ha-ryong, you11@chosun.com )
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