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Most of the South Korean businesses in the joint Kaesong Industrial Complex in North Korea are in trouble amid a new ice age in inter-Korean relations.
The Korea Federation of Small and Medium Business on Sunday released a survey of 63 South Korean businesses operating or planning to operate in the industrial park. Some 60.3 percent of respondents said their situation was ¡°very serious¡± and 28.6 percent it was ¡°serious."
Asked what specific difficulties they have now North Korea has threatened to cut off cross-border traffic 34.9 percent said they were concerned about next year's business plans; 22.9 percent said orders have been canceled or it is hard to win new orders; and 21.1 percent were worried about their credit ratings falling.
A majority of 54.1 percent said they had no contingency plans in case tensions persist. Some 26.2 percent said they would give up operations in the Kaesong complex altogether, while 13.1 percent said they would suspend or close some production lines.
(englishnews@chosun.com )
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