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Purveyor

(29,876 posts)
Fri Apr 26, 2013, 11:48 AM Apr 2013

South Korea to Withdraw Citizens From Joint Factory as North Rejects Talks

Source: Bloomberg

South Korea said it will withdraw all its citizens remaining in a jointly-run industrial park in North Korea after the totalitarian regime rejected a demand to discuss the shuttered complex.

President Park Geun Hye made the “inevitable” decision to pull the 175 South Koreans still at the Gaeseong industrial zone since it shut down more than two weeks ago, Unification Minister Ryoo Kihl Jae told reporters today in Seoul, without setting a withdrawal date. North Korea ignored a noon deadline to accept an offer for talks on re-opening the factory.

--CLIP
North Korea’s National Defense Commission threatened “final, decisive and serious measures” against the South’s “ultimatums,” according to a statement on the official Korean Central News Agency. The South should withdraw its citizens from Gaeseong if concerned about their well-being, KCNA said.

The complex, about 10 kilometers (6 miles) north of the demilitarized zone between the two countries, employs more than 53,000 North Koreans at 123 South Korean companies. North Korea generates $100 million in annual profits there, while South Korea makes quadruple that amount, according to Yang Moo Jin, a professor at the University of North Korean Studies in Seoul.

Read more: http://www.bloomberg.com/news/2013-04-26/south-korea-pulls-out-of-joint-factory-after-north-rejects-talks.html

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South Korea to Withdraw Citizens From Joint Factory as North Rejects Talks (Original Post) Purveyor Apr 2013 OP
More important: NK can sell those products for foreign currency. DetlefK Apr 2013 #1
Talk about shooting yourself in the head? premium Apr 2013 #2
A joint factory? Wednesdays Apr 2013 #3
I'll smoke to that!..... nt Ernesto Apr 2013 #4
 

premium

(3,731 posts)
2. Talk about shooting yourself in the head?
Fri Apr 26, 2013, 11:56 AM
Apr 2013

Because that's exactly what N. Korea is doing, they depend on the money generated from this complex for their budget, S. Korea doesn't really need it.

Now I suppose that N. Korea will start issuing it's threats again.

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