eseoulpost
DomesticInterKorea Contacts
S. Korean businesses hope for systemic support for possible investment in N. Korea
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2018.06.30  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   
 

A number of South Korean businesses are mulling long-term projects to do businesses in North Korea, a local business lobby official said Friday.

The South's business circles largely remain cautious about making investments in the communist neighbor amid the U.N.-led sanctions against it and uncertainty about conditions. But they are paying keen attention to the ongoing dialogue phase and an envisioned peace process, according to Jung Bong-ho, head of international cooperation at the Federation of Korean Industries (FKI).

"The number one principle is to follow the government's policy," he said at an economy-related session of an annual forum, co-hosted by Yonhap News Agency and the Ministry of Unification, on Korea peace.

Citing an FKI survey of member firms, he said roughly half of them are considering investments in the North "from a long-term perspective."

   Some business leaders hope for the government to play a leading role in laying groundwork such as policy and systemic support, Kim said.

It could include a basic agreement on inter-Korean economic cooperation, he said.

Kim Hyo-jin, who's in charge of the North Korea Business Center at Samjong KPMG Accounting Corp., stressed that the North is in urgent need of infrastructure investment for its stated top goal of economic development.

"What's needed first is investment in construction, logistics, railway and other infrastructure projects," Kim pointed out. "Ironically, however, it's hard to put huge amounts of civilian capital into the sectors."

 That's why the government needs to use public funds for infrastructure projects in the North if the peace process moves forward and sanctions are eased or lifted, Kim said.

A question is how quickly the North will become a "normal country" truly attractive to foreign investors, he added.

Former Vice Unification Minister Lee Kwan-se called for the government to map out phased plans for a "new economy" involving North Korea in connection with the issues of denuclearization, sanctions and security assurances.

"There are 27 special economic development zones in North Korea," said Lee, who serve as director of the Institute for Far Eastern Studies at Kyungnam University.

He added, "The government needs to prepare for what to do in connection with development when North Korea's door is open some day."

Lim Gang-taek, a senior researcher at the Korea Institute for National Unification, said sanctions are the biggest obstacle for now but that it's important to build up mutual trust for future economic cooperation.

"In that sense, a dual-track strategy is necessary to comply with U.N. sanctions and seek ways to promote development cooperation through international agencies," he said.

On inter-Korean railway cooperation, Ahn Byung-min, a senior researcher at the Korea Transport Institute, said the two sides can push for projects to standardize related terminologies and systems. (Yonhap News)

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Leadership of World Peace, the Responsibility and Role of
2
DLD Service Centres serve 39,000 investors, attain AED131 billion in investments
3
S.Korea HWPL Peace Summit ignites international support for peace law campaign
4
Al Ghufran tribe calls on Human Rights Council to document Qatar regime's violations
5
Moon to hold summit with Trump in New York next week: official
6
ICCK Diwali Ball 2018: Experience the Spirit of India (Nov.9)
7
Taiwanese march in New York to appeal for U.N. membership
8
Sharjah Charity’s 30 years of success binds us to continue march of progress: Essam Al Qasimi
9
Sharjah, Indonesia review ways of boosting economic, trade relations
10
Statement on Pak-UAE relations on official visit of Prime Minister of Pakistan to United Arab Emirates
Photo News Green Biz
Abu Dhabi hosts The First Regional Biodiversity Forum in the Gulf Region
Abu Dhabi hosts The First Regional...
min
Etihad ESCO plans to reduce more than one million tonnes of carbon dioxide by 2030
Etihad ESCO plans to reduce more t...
min
Sharjah Municipality, MOCCAE discuss cooperation to protect environment
Sharjah Municipality, MOCCAE discu...
min
Earth Hour 2018: Lights out across UAE as Earth Hour is marked
Earth Hour 2018: Lights out across...
min
Suqia plays key role in enhancing UAE's global efforts to address water challenges
Suqia plays key role in enhancing ...
min
Photo News Sports
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
S. Korean table tennis player savors 'historic' title with N. Korean partner
S. Korean table tennis player savo...
min
S. Korean golfer Kim Sei-young sets LPGA scoring records to win Thornberry Creek Classic
S. Korean golfer Kim Sei-young set...
min
Photo News World
Two taekwondo golds among 11 medals for S. Korea on Day 1
Two taekwondo golds among 11 medal...
min
Taiwan team wins first gold medal at Asian Games
Taiwan team wins first gold medal ...
min
(Asian Games) Koreas march together at opening ceremony
(Asian Games) Koreas march togethe...
min
FIFA Club World Cup UAE 2018 to boost nation's global sporting credentials
FIFA Club World Cup UAE 2018 to bo...
min
UAE gearing up for Asia's biggest football tournament
UAE gearing up for Asia's biggest ...
MIN
Taiwan blasts China for blocking Taichung games
Taiwan blasts China for blocking T...
min
S. Korean table tennis player savors 'historic' title with N. Korean partner
S. Korean table tennis player savo...
min
S. Korean golfer Kim Sei-young sets LPGA scoring records to win Thornberry Creek Classic
S. Korean golfer Kim Sei-young set...
min
Photo News Opinion
First ladies of Koreas visit children's hospital, music college in Pyongyang
First ladies of Koreas visit child...
min
Kim says he expects progress in U.S.-N. Korea talks
Kim says he expects progress in U....
min
Samsung, Hyundai, SK, LG leaders to join President Moon's Pyongyang visit
Samsung, Hyundai, SK, LG leaders t...
min
Moon to fly directly to Pyongyang for 3rd summit with N. Korean leader
Moon to fly directly to Pyongyang ...
min
Koreas open joint liaison office in Kaesong
Koreas open joint liaison office i...
min
Moon aide hopes summit will provide fresh impetus for nuclear talks
Moon aide hopes summit will provid...
min
Two Koreas to hold working-level military talks
Two Koreas to hold working-level m...
min
Koreas to open liaison office in Kaesong on Friday
Koreas to open liaison office in K...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com