05:42 GMT +319 October 2019
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    Model Industrial Complex (factories) in Kaesong (Gaesong) Industrial Area, DPRK

    S Korea to Hold Gov’t Meeting on Providing Aid to Kaesong-Based Companies

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    The South Korean government will hold a meeting on Thursday to map out measures aimed at helping companies based at the Kaesong industrial park that Seoul pulled out from in response to Pyongyang’s recent nuclear test and satellite launch, local media report.

    TOKYO (Sputnik) – South Korea’s Unification Ministry announced on Wednesday that it was suspending operations at the Kaesong industrial complex, run jointly by North and South Korea. The move came in response to North Korea’s January nuclear test and the launch of a satellite using ballistic missile technology, performed on Saturday.

    According to South Korea’s Yonhap news agency, the Financial Services Commission (FSC) announced on Wednesday that it was planning to provide financial support to companies operating at Kaesong in order to minimize the possible losses.

    Yonhap reported citing officials that a South Korean government meeting on the matter will be held on Thursday.

    The Kaesong complex is a special economic zone on the inter-Korean border, which is jointly run by North and South Korea.

    There are 124 South Korean companies operating at the Kaesong complex with over 54,000 North Korean employees.


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