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President Kim Urges South Korean and Foreign Partnership in N.Korea

Aug 22,2000
"It would be best if foreign investment in North Korea were made through a partnership with South Korean companies. We have to find ways to promote this kind of joint investment," said President Kim in a policy meeting with the newly formed economic team on August 22.

At the same time, President Kim expressed that "offering a safe investment environment, including legalized investment security, anti-double taxation laws and bankruptcy laws, is as important as forging an alliance with North Korea."

He also emphased that the improved inter-Korean relationship is meaningful for the enlargment of the South's economic scale to include the entire Korean peninsula, promising a new era with the combination of peace and development.

As for venture businesses, he stated that to have venture companies sustain their success, the government should provide support to help these companies become more competitive.

Following the newly appointed finance minister Jin Nyum's commitment to reforms in the financial, corporate, public, and labor sectors, President Kim reaffirmed the government's intention to complete these reforms by February 2001.

by Kim Jin-kook




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