Kaesong Industrial Complex Companies Association Urges Government Compensation, Expresses Anger Over North Korea's Unauthorized Operation of Complex

The Kaesong Industrial Complex Enterprise Association held a press conference on the 27th at the Korea Federation of Small and Medium Business in Yeouido, Seoul, urging the government to compensate the affected companies. In the front row, center is Chairman Kim Jae-cheol.
[Photo by Kaesong Industrial Complex Enterprise Association]

[Asia Economy Reporter Kim Jong-hwa] The Kaesong Industrial Complex Enterprise Association held a press conference on the 27th at the Korea Federation of SMEs in Yeouido, Seoul, urging the government to compensate the affected companies.

The association stated, "We cannot contain our disappointment and anger over the North's unauthorized operation of factories belonging to companies in the Kaesong Industrial Complex," and demanded, "If the reopening of the Kaesong Industrial Complex can no longer be promised, the government must now fulfill fair compensation for the affected companies."

In a statement, the association said, "Due to government measures, companies in the Kaesong Industrial Complex lost their production bases instantly without any responsibility, and as clients gradually withdrew, 2 to 3 out of 10 companies faced temporary closure or shutdown," adding, "Nevertheless, they have trusted our government and eagerly awaited the reopening of the Kaesong Industrial Complex."

Chairman Lee Jae-cheol asserted, "The Kaesong Industrial Complex was promoted not merely for corporate profit but based on a national consensus for inter-Korean reconciliation, cooperation, and peace settlement," and argued, "Companies that invested in the Kaesong Industrial Complex trusting the government require fair compensation according to the Constitution and laws, which is a measure consistent with fairness and common sense."

He further emphasized, "We, the companies in the Kaesong Industrial Complex, strongly urge the government and the National Assembly to promptly enact a special law to fully compensate for business losses and other corporate damages."

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