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Gov't set to pay insurance claims to Kaesong firms

2013/08/06 14:42

SEOUL, Aug. 6 (Yonhap) -- The government is ready to pay insurance claims to South Korean firms that have factories and other assets at a suspended inter-Korean industrial park in the North Korean border city of Kaesong, officials said Tuesday.

The Kaesong Industrial complex, which had been home to 123 South Korean companies, came to a screeching halt in early April amid a spike in tensions on the Korean Peninsula. The halt is estimated to have cost the firms a combined loss of 1.05 trillion won (US$943 million), with the government putting the figure at 706.7 billion won.

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