Dissolution of the Kaesong Industrial District Support Foundation, giving an impression of North-South bankruptcy

Regarding the Kaesong Industrial Park in Kaesong (Kaesong), southern North Korea, which is jointly operated by South and North Korea and whose operations have been suspended since February 2016, South Korea's Kaesong Industrial District Branch has been supporting the operation of the complex.
The Foundation will soon be disbanded. The operation of the complex was a project that symbolized the economic cooperation between South and North Korea, but the South Korean government of President Yoon Seo-gyul (Yun Seok-yue) has been reducing the scope of inter-Korean exchange and cooperation.
The dissolution of the foundation is also part of this process. Meanwhile, according to US media reports, work is underway to remove the rubble of the North-South Joint Liaison Office, which was once located in the same complex and was unilaterally detonated by North Korea in June 2020.
It appears to have been completed. The work has been continued by North Korea since early last year, but South Korea's Ministry of Unification (a ministry is equivalent to a ministry) has accused North Korea of ``continuing to infringe on our property rights'' and immediately
I asked for it to be cancelled. The series of developments surrounding the area, which was once a symbol of reconciliation and cooperation, now gives a strong impression of a breakdown between the North and South.
The Kaesong Industrial Complex is home to North Korean National Defense Commissioner Kim Jong Il.
An industrial park for South Korean companies was built on the outskirts of Kaesong, near the North-South Military Demarcation Line, based on an agreement between Jang and South Korean President Kim Dae-jung (both titles were the same at the time). Basically North Korea is land.
Operations began in 2004 under an agreement that South Korea would provide labor, capital and technical capabilities. Textiles, machinery, metals, electronic parts, and other products are produced within the complex, and the scale is expanding year by year. Production value is 200
14.91 million dollars (approximately 2 billion yen) in 2006, 73.47 million dollars in 2006, 184.78 million dollars in 2007, 251.42 million dollars in 2008, and 256.47 million dollars in 2009.
Ta. In 2010, 121 South Korean small and medium-sized enterprises were engaged in production, employing approximately 800 South Korean workers and 44,000 North Korean workers.
However, relations between the two countries deteriorated after North Korea conducted an underground nuclear test in February 2013. April to September and a half of the same year
Bama's operations were suspended. Although it was later restarted, South Korean President Park Geun-hye's administration decided to suspend operations again in February 2016 in order to cut off North Korea's funding for nuclear missile development.
At the North-South summit meeting in September 2018, an agreement was reached to resume operations, but inter-Korean relations have deteriorated again since then. Then, on June 9, 2020, North Korea closed the inter-Korean joint liaison office in the housing complex.
It exploded. Images of the building, which was seen as a symbol of reconciliation between the North and South, being destroyed to its bare bones shocked the world. Former President Moon Jae-in, whose administration promised reconciliation between the two Koreas,
With the aim of building an economic community, the government attempted to approach North Korea through initiatives such as the ``New Economic Map of the Korean Peninsula,'' which included reopening the Kaesong Industrial Complex. However, North Korea continues to develop missiles, especially in 2019.
Since the breakdown of the U.S.-North Korea summit in February, which caused inter-Korean relations to deteriorate rapidly, economic exchanges between the two Koreas have ceased, and industrial parks have continued to suspend operations.
However, North Korea has been operating facilities within the complex without South Korea's permission.
This has been confirmed so far. The Ministry of Unification revealed in December last year that the number of such facilities was about 30, calling it ``a clear violation of the inter-Korean agreement and an act that fundamentally undermines the foundations of mutual respect and trust.''
. I asked them to stop it immediately. The management of the complex has been supported by the Kaesong Industrial District Support Foundation, which was established in 2007 as an affiliated organization of the Ministry of Unification. The foundation provides permission and approval for companies that will occupy the housing complex.
He has been in charge of access and facility management, but there has been virtually no work since the housing complex stopped operating in 2016. It costs approximately 7 billion won (approximately 788 million yen) annually to maintain the foundation.
Some pointed out that it was a waste of calculations. According to Yonhap News, based on interviews with officials at the Ministry of Unification, the foundation was decided to disband at the end of last year. On the 12th of this month, the foundation's operations were outsourced to the private sector.
The cabinet approved the proposed amendments. The foundation is expected to be dissolved as early as the 20th. After dissolution, operations will be entrusted to the Inter-Korean Exchange Cooperation Support Association.
Meanwhile, the foundation maintains assets worth more than 100 billion won, including a technical support center and a purification and drainage plant within the complex.
However, claims to these foundations are managed not by the association but by the liquidation corporation.