April 13, 2024
News

South Korea to dissolve foundation in charge of inter-Korean industrial park

Seoul cites cost of operating foundation and unauthorized North Korean activity at Kaesong complex closed since 2016

Seoul’s unification ministry announced that it will dissolve the foundation in charge of operations at a defunct inter-Korean industrial park, in a move reflecting strained relations with North Korea.

Citing the “prolonged suspension” of the Kaesong industrial complex, the ministry said in a policy brief Thursday that the foundation’s functions had effectively become “inactive,” rendering it unable to fulfill its primary role of supporting the development and operations of the complex. 

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