Moon makes pledge on helping open Kaesong park

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Moon makes pledge on helping open Kaesong park

President Moon Jae-in said Friday he will make efforts to encourage multinational companies to invest in a now-shuttered industrial park, previously run jointly with North Korea, if operations at the factory zone are resumed.

He was responding to a request by Kim Ki-mun, chairman of the Korea Federation of SMEs, to attract foreign companies into the factory zone in the future during a luncheon meeting with the heads of four local business lobbying groups.

Seoul shut down the Kaesong Industrial Complex in the North’s border town of Kaesong in February 2016 in response to North Korea’s nuclear and long-range missile tests. The reopening of the park hinges on progress in North Korea’s denuclearization. Kim asked Moon to make efforts to induce the participation of multinational companies in the zone as it will help open new business opportunities for South Korean companies.

“If the Kaesong complex is reopened, I’ll make it a factory zone where multinational companies can operate,” Moon was quoted as saying by the Korea Federation of SMEs.

Moon’s remarks appeared to be in line with his vision of seeking inter-Korean economic cooperation through the support of the international community.

During a speech at the United Nations General Assembly last month, Moon proposed turning the demilitarized zone that bisects the two Koreas into an international peace zone with the help of the UN.

Friday’s luncheon also brought together Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry; Sohn Kyung-shik, head of the Korea Employers Federation; and Kim Young-ju, chief of the Korea International Trade Association.

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