Gaeseong Complex for Koreas’ Economic Growth
By Kim Sue-young
Staff Reporter
Presidential candidate Chung Dong-young of the United New Democratic Party (UNDP) Wednesday called the Gaeseong Industrial Complex in North Korea a foundation for the economic growth of the two Koreas.
Chung, a former minister of unification, made the remarks during his visit to the complex in the North Korean border city.
``As the Chinese city of Shenzhen paved the way for China's economic takeoff, the Gaeseong complex will lay the foundation for sustainable economic growth for both South and North Korea,'' Chung told reporters.
The joint industrial complex, which was constructed after an agreement at the first-ever inter-Korean summit in 2000, will offer South Koreans who suffer from a high unemployment rate up to 350,000 jobs, he said.
Chung who served as unification minister between 2004 and 2005 proposed three projects as campaign pledges _ the construction of a peace-economic zone along the coastline of the West Sea; the expansion of the Gaeseong complex; and changing the Demilitarized Zone (DMZ) into a peace zone.
He also said the two countries could advance onto the continent through eco-friendly railways, not destructive canals.
His rival Lee Myung-bak of the Grand National Party (GNP) has presented the ``Pan-Korean Waterway Project'' as his signature pledge to connect northern and southern rivers to cut logistics cost.
Chung insisted the Gaesong Industrial Complex will bring more financial profits and attract more investments if the problems of limited passage, communication and customs are solved as agreed upon in the second inter-Korean summit in early October.
He also said Gaeseong will emerge as a symbol of peace on the Korean Peninsula.
By 2008, the North Korean nuclear issue will be settled and the two Koreas will see an era of peace, he added.
Chung said the development of the complex will help small and medium-sized companies overcome difficulties in running their businesses by providing cheap labor and land.
According to the Chung camp, a total of 45 firms are operating at Gaesong producing goods worth $200 million per year.
The number of workers at the site is also on the rise. About 200,000 from both South and North Korea are working at the complex.