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(LEAD) Kaesong companies to receive 280.9 bln won in insurance payment

2013/08/07 16:31

SEOUL, Aug. 7 (Yonhap) -- The government said Wednesday that it has authorized 280.9 billion won (US$251.2 million) in insurance payments to South Korean companies that either have factories at the inter-Korean industrial complex in Kaesong or provided services to such firms four months after all operations there were halted.

The decision to pay the insurance money to the 109 companies comes four months after all operations at the Kaesong Industrial Complex came to a screeching halt in early April amid heightened tensions on the Korean Peninsula. Six rounds of talks in July failed to make headway over how to set safeguards to prevent another work stoppage.

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