May 04, 2024
News

Seoul asks inter-Korean trade companies to refund loan

Companies, NGOs say losses due to sanctions are large, call for government consideration

The Seoul government is seeking to collect a share of the low-interest loans it has provided for the purpose of assisting companies working on inter-Korean economic cooperation.

The Export-Import (Ex-Im) Bank of Korea sent letters to 149 out of 168 companies, asking that they refund 5 percent of the loans. The other 19 companies, which invested in Mount Kumgang and the interior region, excluding the Kaesong Industrial Complex, were not included.

Become a member for less than $4 per week.

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • The NK News Daily Update, an email newsletter to keep you in the loop
  • Searchable archive of all content, photo galleries, special columns
  • Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now

All major cards accepted. No commitments – you can cancel any time.