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Home Peace
and future of DMZInterchange
& cooperationConsideration
for food loan to North Korea |
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1)
A general survey |
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| Government provided North Korea
with rice of 400,000 ton as the method of loan in
2003 since 2002, in humanitarian way. Rice support
of 400,000 ton was decided In the 5th Meeting of
the South-North Korea Exchange & Cooperation
Promotion Committee held on 23 May 2003. An amounts
of loans settled in the South-North Korea Exchange
& Cooperation Promotion Conference held on 21
June, which is within 110,000,000 dollars out of
the South-North Cooperation Fun. |
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2)
Summary of mutual agreement about food loan between
South and North Korea |
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1. South Korea provides North
Korea with rice of 400,000 ton as the method of
loan
2. The price of provided rice is US $265 per ton
and South Korea bears expenses regarding transportation
to the port of North Korea and North Korea bears
expenses for loading and unloading & harbor
facilities.
3. The term of redemption is 30 years including
the term of a loan, 10 years and the interest is
1.0 percent per annum
4. Loan or redemption is followed by the loan contract
concluded between the Export-Import Bank of Korea
of South Korea and Choseon Trade Bank of North Korea
5. Matters regarding delivery and undertaking will
be carried out by delivery and undertaking formalities
and South Korea should inform North Korea of a corporation
in charge of food delivery and North Korea should
inform South Korea of a corporation in charge of
food undertaking
6. North Korea should guarantee about safe operation
of a ship as well as safe staying and return of
South Korean and provide them with convenience needed
7. North Korea should cooperate in order that rice
support is proceeded in a favorable way, such as
confirmation and guarantee of distribution transparency,
without a hitch
8. The problem, which might occur during the agreement
was conducted, should be resolved between the South
and North Korean Authorities
It is sure that such food supply as the type of
a loan contributes to improve the relationship between
South and North Korea by making up of trust circumstance
for formation of the South-North economy union.
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