a full-scale of economy
cooperation project, Gaeseong industrial
complex development project (the first
step development project of factory
district), in order to form industrial
complex, where South Korean corporations
normally are moved in, is promoted in
a regular way.
The place of the project is the whole
area of Gaeseong-si and Pyeonghwa-ri,
Panmun-gun of North Korea whose size
is around 20,000,000 pyeong. The first
step of the project has been proceeding
by Korea Land Corporation in association
with Hyundai Asan. Its object is to
form an industrial complex, whose size
is 1,000,000 pyeong. |
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ground-braking ceremony of Gaeseong
industrial complex |
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The project was not proceeded
in a fast way as a design and surveying were parallel
with systematic improvement work at the same time
for development of an industrial complex according
as the protocol was closed between Hyundai Asan
and Asia & Pacific on 9 Aug. 2000. A practical
construction has been progressed thanks to continuous
effects among enterprisers and the South-North
Authorities in the early of 2004.
South Korea conferred with North Korea about customs
clearance, communication, and quarantine on 8
Dec. 2002. The foundation for a safe business
in North Korea was built with the effectuation
of the agreements of Economy Cooperation on 20
Aug. 2003. Development project of Gaeseong industrial
complex was started constructing and a roadmap
regarding industrial complex formation was arranged
in 7th South-North Economy Cooperation Promotion
Committee (SNECPO) held on 5~8 Nov. Systematic
measures are arranged within 2003, which are enactment
and promulgate of subordinate regulations of North
Korea and agreement of passage between South and
North Korea according to this agreement 2003.
The South-North economy cooperation office will
be established and a model complex will be developed
in the first half of 2004.
Passage and communication connection of Gaeseong
& Geumgang districts were discussed in 4th
meeting of the South-North Economy Cooperation
Working-level Conference held on 17~20 Dec. 2003.
As a result, although an agreement of passage
was not adopted because of safety problems, circumstance
to activate economy cooperation between South
and North Korea was managed through continuous
conference of the South-North Economy Cooperation
System Working-level Talks held 27~29 Jan. 2004.
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