Cabinet Confirms 2 Koreas' Accords

Four matters agreed upon at the fourth inter-Korean ministerial-level talks last December were deliberated and decided upon by a cabinet meeting Tuesday.

The four agreements are on investment guarantees, the prevention of double taxation, procedures to resolve commercial disputes, and the settlement of payments.

The government plans to submit the approved agreement for ratification to the National Assembly next month. The Grand National Party having said that it would cooperate, it would be the first time that an accord forged by the two Koreas would take legal effect.

Under the agreement, the two Koreas would allow cross-border investments by each other, protect the investments, and grant most favored nation status to the investors and the investments.