Amendment to the Inter-Korean Exchange and Cooperation Act Specifying Reasons for Refusal of North Korea Visits Passes Cabinet Meeting

Establishing Financial Support Grounds in Case of Suspension of Inter-Korean Cooperation Projects

[Asia Economy Reporter Naju-seok] The amendment to the "Act on Inter-Korean Exchange and Cooperation" (hereinafter referred to as the Inter-Korean Exchange and Cooperation Act), which specifies the reasons for refusal of approval for visits to North Korea and enables financial support in case of suspension of inter-Korean trade and cooperation projects, passed the Cabinet meeting on the 19th.

President Moon Jae-in is presiding over a Cabinet meeting at the Blue House on the 19th. [Image source=Yonhap News]

The amendment specifies reasons for refusal of approval for visits to North Korea, including "persons who are suspended from prosecution or have arrest warrants or detention warrants issued for crimes punishable by imprisonment of three years or more," "persons at high risk of harm to life or physical safety if they visit," and "persons under security observation who have received warnings under Article 22 of the Security Observation Act during the observation period." In addition, if South Korean laws are violated in North Korea causing harm to inter-Korean exchanges, approval for visits to North Korea may be restricted for a period of one to three years.

Furthermore, the amendment establishes the procedures and grounds for government financial support for business normalization when inter-Korean trade and cooperation projects are suspended.

Additionally, matters regarding the establishment of corporate or organizational offices in North Korea, which had been regulated in the form of public notices, have been elevated to matters concerning the establishment of offices in the North Korean region.

This amendment is expected to be submitted to the National Assembly in January after the President's approval.

The Ministry of Unification stated, "If implemented after deliberation and resolution by the National Assembly, it is expected to contribute to stable and sustainable inter-Korean exchange and cooperation," and added, "The government will continue to make efforts to promote various policies to revitalize inter-Korean exchange and cooperation."

This content was produced with the assistance of AI translation services.