Seoul should not miss the “opportunity” presented by the future opening-up of the North Korean economy, ROK President Moon Jae-in said Thursday.

Speaking at a New Year press conference, the South Korean President said past operations at the Kaesong Industrial Complex (KIC) and tourism at Mount Kumgang had been “beneficial to both South and North Korea.”

The “backward linkage effect” of previous inter-Korean economic cooperation on the South Korean economy should be considered, Moon said, urging South Korean companies to seize that opportunity when it arises.

“My view is that international capital, including from China will flow competitively [into North