The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
North Korea
Wed, August 10, 2022 | 22:58
South Korea seeks to reignite inter-Korean projects
Posted : 2020-11-23 16:28
Updated : 2020-11-24 08:58
Print Preview
Font Size Up
Font Size Down
Unification Minister Lee In-young speaks during a meeting with business leaders in Seoul, Monday. / Yonhap
Unification Minister Lee In-young speaks during a meeting with business leaders in Seoul, Monday. / Yonhap

By Kang Seung-woo

The government is seeking to revive deadlocked inter-Korean economic projects, including the reopening of a joint factory park, expecting that cross-border cooperation could resume earlier than some forecast.

Unification Minister Lee In-young held a meeting with business leaders in Seoul, Monday, to gauge their opinions on the plan as part of the government's re-launching of the Korean Peninsula peace process initiative. Representatives from local companies, including Samsung Electronics, Hyundai Motor, SK and LG that accompanied President Moon Jae-in on his visit to Pyongyang in September 2018, participated.

The meeting took place as the situation on the peninsula is seen as facing a crucial turning point ahead of a U.S. leadership change next year, which could have a huge impact on inter-Korean ties. Joe Biden will be sworn in as the 46th U.S. president on Jan. 20, 2021. The Ministry of Unification said the meeting was arranged so the government and companies could discuss measures to help inter-Korean relations, stalled since the U.S.-North Korea summit in Hanoi in February last year failed to reach a deal, take a step forward in the future.

"While building an environment for economic cooperation between the two Koreas, the government plans to reignite inter-Korean projects such as individual tours to the North by South Koreans, cross-border railway and road connections and the resumption of work at the Gaeseong Industrial Complex," Lee said.

The factory park in the North Korean city of Gaeseong, the last remaining symbol of inter-Korean economic cooperation, was closed by the Park Geun-hye administration in February 2016 after the North conducted its fourth nuclear test and launched long-range missiles. The two Koreas opened a joint liaison office in Gaeseong in September 2018 amid improvements in inter-Korean ties following summits between Moon and North Korean leader Kim Jong-un, but the North demolished the building in June this year.

Since the unification minister, a long-time advocate of engagement with the North, took office in July, he has strived to promote cross-border economic exchanges between the two sides, pursuing "small-scale trading" with the North that would not be subject to international sanctions.

The minister also said the timing was favorable for the government's economic drive.

"The North is scheduled to hold its eighth congress of the ruling Workers' Party in January next year, in which economic growth is expected to remain at the top of the agenda, due to this year's triple hits from the COVID-19 pandemic, international sanctions and flood damage," Lee said.

"If a COVID-19 vaccine is fully developed and denuclearization talks between the United States and the North make progress, during which international sanctions on the country are eased, inter-Korean economic cooperation is likely to happen sooner than expected."

Given that President-elect Biden has been critical of meeting North Korean leader Kim without preconditions, speculation is rampant that relations between Washington and Pyongyang are likely to get worse than under the Donald Trump administration, thereby negatively affecting inter-Korean exchanges and cooperation. Progress in inter-Korean relations has historically depended on those between the U.S. and the North.

However, Lee does not buy into this idea.

"President-elect Biden has left room for a meeting with Kim on the condition that the North draws down its nuclear capacity, while mentioning the need to provide a future vision through a proper mixture of toughening and easing sanctions on the North. In one sense, he hinted that his administration may adopt a more flexible approach to the North," he said.


Emailksw@koreatimes.co.kr Article ListMore articles by this reporter
 
LG
  • Capital region to see additional 300 millimeters of rain until Friday
  • North Korea releases water from border dam after downpours
  • [PHOTOS] Damage after torrential rains
  • Visa regulation pits Jeju islanders against justice ministry
  • Canadian YouTuber takes viewers on brewing adventures in Korea
  • China wary of South Korea's US-centered policy
  • Yoon details whereabouts during record downpour to curb conspiracy theory
  • Heavy downpour disrupts e-commerce deliveries
  • Ex-President Lee Myung-bak unlikely to be released
  • Former Starbucks Korea CEO leads growth of Shinsegae brand JAJU
  • Interactive News
  • With tough love,
  • 'Santa dogs' help rebuild burnt forests in Andong
  • 'Santa dogs' help rebuild burnt forests in Andong
  • A tale of natural wine
    • BLACKPINK to start world tour in October BLACKPINK to start world tour in October
    • [INTERVIEW] Im Si-wan finds own narrative for villain role in 'Emergency Declaration' [INTERVIEW] Im Si-wan finds own narrative for villain role in 'Emergency Declaration'
    • 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan Asian American resistance movement 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan Asian American resistance movement
    • 'Good Doctor' director to debut Netflix's high-strung suspense series, 'A Model Family' 'Good Doctor' director to debut Netflix's high-strung suspense series, 'A Model Family'
    • Crime thriller 'Limit' is about mother's quest to save abducted son Crime thriller 'Limit' is about mother's quest to save abducted son
    DARKROOM
    • Ice is melting, land is burning

      Ice is melting, land is burning

    • Tottenham 6-3 Team K League

      Tottenham 6-3 Team K League

    • Afghanistan earthquake killed more than 1,000

      Afghanistan earthquake killed more than 1,000

    • Divided America reacts to overturn of Roe vs. Wade

      Divided America reacts to overturn of Roe vs. Wade

    • Namaste: Yogis to celebrate International Yoga Day

      Namaste: Yogis to celebrate International Yoga Day

    The Korea Times
    CEO & Publisher : Oh Young-jin
    Digital News Email : webmaster@koreatimes.co.kr
    Tel : 02-724-2114
    Online newspaper registration No : 서울,아52844
    Date of registration : 2020.02.05
    Masthead : The Korea Times
    Copyright © koreatimes.co.kr. All rights reserved.
    • About Us
    • Introduction
    • History
    • Location
    • Media Kit
    • Contact Us
    • Products & Service
    • Subscribe
    • E-paper
    • Mobile Service
    • RSS Service
    • Content Sales
    • Policy
    • Privacy Statement
    • Terms of Service
    • 고충처리인
    • Youth Protection Policy
    • Code of Ethics
    • Copyright Policy
    • Family Site
    • Hankook Ilbo
    • Dongwha Group