Chronology of events leading to suspension of inter-Korean industrial complex
Chung Ki-sup, who leads the council of South Korean enterprises at the Gaeseong Industrial Complex in North Korea, answers questions from reporters after a meeting of fellow businessmen and officials from the Ministry of Unification at the Office of the Inter-Korean Dialogue in Samcheong-dong, Seoul, Wednesday. / Yonhap
The following is a chronology of major events leading to the suspension of the inter-Korean industrial complex in the North's border city of Kaesong on Wednesday.
― August 2000: South Korea's Hyundai Asan Corp. and North Korea sign an agreement on the development of an industrial zone.
― June 2003: Construction begins on the first stage of the Kaesong Industrial Complex.
― December 2004: The complex rolls out its first products.
― January 2007: The accumulated output from the complex reaches US$100 million.
― March 2008: North Korea demands the withdrawal of all South Korean authorities from the park. Eleven South Korean officials pull out.
― June 2009: North Korea demands monthly wages of $300 and a $500 million fee for land use. South Korea refuses to comply. For the first time, a South Korean firm pulls out of the complex.
-- May 2010: South Korea announces sanctions measures against North Korea over the deadly sinking of a South Korean warship in March. All new investments into the Kaesong complex are banned under the measures.
― April 2013: North Korea pulls out all of its workers from the complex, leading to suspended operations.
― September 2013: The complex resumes operations under an inter-Korean agreement signed in August.
― February 2015: North Korea unilaterally informs the South of a 5.18 percent increase in the minimum wage.
― August 2015: The two sides agree on a 5 percent minimum wage increase.
― February 2016: South Korea suspends all operations at the complex.