South Korean firms threaten to leave Kaesong joint zone

Dozens of South Korean firms on Wednesday threatened to withdraw from a shuttered joint industrial zone in North Korea, complaining they fell victim to political bickering between the two Koreas.

Representatives of the 123 South Korean companies with factories in Kaesong have repeatedly urged North and South Korea to open talks to revive the moribund industrial park.

Of the 123 companies, 46 are manufacturers of electronics and machinery parts whose facilities are especially vulnerable to humidity in the current monsoon weather in the absence of maintenance.

"The manufacturers of machinery and electronics parts cannot wait any longer. Kaesong must be reopened... or they have to move elsewhere", Kim Hak-Kwon, who represents the 46 companies, told journalists.

"It has been 92 days since the complex came to a halt... our patience has been stretched beyond its limit", he said.

Kim urged Seoul and Pyongyang to lose no time in allowing company managers to visit the zone for maintenance.

Several companies have been in talks to move facilities out of Kaesong to relocate them abroad including China, Kim said.

Established in 2004 as a rare symbol of inter-Korean cooperation, the Kaesong industrial estate was the most high-profile casualty of months of elevated tensions that followed the North's nuclear test in February.

Operations at the complex just north of the border ground to a halt soon after the North banned entry by southerners on April 3 amid soaring military tensions with Seoul.

About a week later Pyongyang pulled all its workers out, prompting Seoul to withdraw its managers and officials soon afterwards.

Born out of the "Sunshine Policy" of inter-Korean conciliation initiated in the late 1990s by then South Korean president Kim Dae-Jung, Kaesong was a crucial hard currency source for the impoverished North, mainly through its cut of workers' wages.

Neither side has declared the complex officially closed despite the paralysis for the past three months, calling it a temporary shutdown.

Cross-border talks scheduled last month to discuss the fate of the complex were cancelled due to disputes over protocol.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • First China air force drills in 'far offshore' Pacific
    First China air force drills in 'far offshore' Pacific

    China's air force has carried out its first ever military drill over the western Pacific Ocean, state media said, highlighting Beijing's growing military reach. Several aircraft from China's People's Liberation Army (PLA) on Monday flew over the ocean via the Bashi Channel, which runs between Taiwan and the Philippines, the official Xinhua news agency said. "This is the first time that the PLA Air Force conducted such drills in an airspace far offshore from Chinese coastlines," Xinhua cited …

  • Shorter hours for rail lines tomorrow
    Shorter hours for rail lines tomorrow

    The Metro Rail Transit (MRT), Light Rail Transit (LRT) and the Philippine National Railways (PNR) will have shorter hours tomorrow for the replacement of defective railroad tracks during the Holy Week. …

  • Noy increases allowances for cops, soldiers
    Noy increases allowances for cops, soldiers

    President Aquino has signed a joint congressional resolution raising the daily subsistence allowance for both members of the Armed Forces of the Philippines (AFP) and the Philippine National Police (PNP). Presidential spokesman Edwin Lacierda said Aquino signed last March 27 the merged Joint Resolution 2 of the Senate and Joint Resolution 26 of the House of Representatives. Speaking to reporters, Lacierda yesterday said the daily allowances of police officers and soldiers were raised from P90 …

  • Oil firms raise gas prices today
    Oil firms raise gas prices today

    This year’s Holy Week break will be accompanied by an increase in local pump prices after oil companies announced yesterday a P1.10 per liter hike for gasoline and P0.60 per liter for diesel effective today. “Phoenix Petroleum Philippines will increase the prices of gasoline by P1.10 per liter and diesel by P0.60 per liter effective 6 a.m. of March 31, 2015 to reflect the movements in the prices of refined petroleum products in the international market,” said Phoenix Petroleum, an independent …

  • DFA denies dropping Phl claim to Sabah
    DFA denies dropping Phl claim to Sabah

    The Philippines has never offered to drop its Sabah claim in exchange for Malaysia’s support for Manila’s arbitration case against China over the West Philippine Sea issue, the Department of Foreign Affairs (DFA) said yesterday. “In the context of our friendly bilateral relations, our two countries have been for years exchanging ways on how to address the issue of the extended continental shelf (ECS) in the South China Sea,” Foreign Affairs spokesman Charles Jose said in explaining the DFA’s …

  • Pagcor remits record high P5 B to national treasury
    Pagcor remits record high P5 B to national treasury

    The Philippine Amusement and Gaming Corp. (Pagcor) has remitted P5 billion in cash dividends to the National Treasury, fully settling all its arrears incurred in the last several years. Pagcor chairman and chief executive officer Cristino Naguiat Jr. said with this year’s remittance, the state-owned gaming firm has fully settled all remaining arrears in cash dividends that were incurred by the previous administration since 2005. Pagcor’s cash dividends to the National Treasury under its …

  • Maysak moves closer to Phl
    Maysak moves closer to Phl

    The typhoon with international name Maysak slightly accelerated as it moved closer to the Philippines yesterday, threatening to dump rains over eastern Luzon this weekend, the state weather bureau said. Rene Paciente, senior weather forecaster of the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA), said Maysak was spotted at 2,175 kilometers east of Mindanao as of 1 p.m. yesterday. Paciente said based on their latest forecast, Maysak is likely to affect …

  • Phl gets P2-B climate projects from Germany
    Phl gets P2-B climate projects from Germany

    The Philippines is getting 41 million euros or around P2 billion from the International Climate Initiative (ICI) of Germany that will fund 10 bilateral projects to address the impact of climate change. Climate Change Commission (CCC) vice chairman Lucille Sering yesterday met with Norbert Gorissen – head of the International Climate Finance of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety – to discuss the projects, some of which will be …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options