S. Korea postpones foreign firm IR event for Kaesong complex
2013/10/14 17:08
SEOUL, Oct. 14 (Yonhap) -- South Korea said Monday that it has postponed an investor relations (IR) event planned for the end of the month at the joint inter-Korean factory park in Kaesong.
The event was originally arranged to attract foreign investors to set up factories at the Kaesong Industrial Complex that is currently home to 123 South Korean companies.
"Seoul sent the message to the North last Friday," a unification ministry official said. He said the delay reflects the lack of progress made in talks to enhance communication, and travel to and from Kaesong.
Attracting foreign companies is part of the plan to transform the special business zone into a truly international production hub. Getting foreign companies to invest in Kaesong could also make it harder for Pyongyang to close down the complex.
In early April, the North unilaterally pulled out all of its 53,000 workers, effectively closing down the park that first started making products in late 2004. Seoul and Pyongyang agreed to reopen Kaesong on Sept. 16.
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