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Home / News / World News / S. Korea cuts utilities of Inter-Korean industrial complex
  • World

    S. Korea cuts utilities of Inter-Korean industrial complex

    Achin Garg
    Written by
    Achin Garg
    Mail
    Last updated on Feb 12, 2016, 04:49 pm
    S. Korea cuts utilities of Inter-Korean industrial complex
    Credits:
  • South Korea has cut the power and water supply of the Inter-Korean industrial complex located in Kaesong, North Korea.

    It was done after North Korea ordered a military takeover of the complex and deported all the South Korean workers.

    This has further escalated the tensions between the 2 nations which were already at their peak after North Korea launched a satellite earlier this week.

  • In this article
    What is Inter-Korean industrial complex? Industrial complex: Connecting the 2 Koreas Tensions did not led to suspension of operations Kaesong operations suspended for 1st time Kaesong store opened in Seoul Economic comparison: South vs North South Korea announces suspension of complex North Korea military takes over Kaesong S. Korea cuts utilities of Inter-Korean industrial complex
  • Data

    What is Inter-Korean industrial complex?

  • The Inter-Korean Industrial complex or the Kaesong Industrial complex, launched in 2004, is a joint venture between the South Korea and North Korea and is located 10 km north of the demilitarised zone on the western side of the border.

  • About

    Industrial complex: Connecting the 2 Koreas

    Industrial complex: Connecting the 2 Koreas
    Credits:
  • The complex is the last symbol of cooperation between the 2 nations.

    About 124 South Korean companies had invested $835 million in the park which provides employment to 53,000 North Korean workers.

    The industrial park allows the South Korean firms to employ cheap but skilled North Korean workforce while North Korea gets important foreign income in the form of wages and rent.

  • Information

    Tensions did not led to suspension of operations

  • The tensions between the two nations rose in 2010 when North drowned a South Korean ship. However, the operations in the Kaesong industrial complex were not suspended despite sanctions being imposed by South Korea on its northern rival.

  • Aug 2013

    Kaesong operations suspended for 1st time

    Kaesong operations suspended for 1st time
    Credits:
  • The Kaesong industrial complex was closed for the first time in 2013 after tensions increased between the two Koreas.

    North Korea pulled out its workers from the industrial complex due to the military drill between South Korea and the US.

    The operations, which resumed after 160 days when an inter-Korean agreement was signed, had cost $870 million to South Korean companies.

  • 7 Aug 2015

    Kaesong store opened in Seoul

    Kaesong store opened in Seoul
    Credits:
  • Kaesong industrial complex opened a shop in the South Korean capital Seoul.

    The store which sells made in Kaesong products received a huge response from South Korean people.

    The quality of products had been good as the raw material is mainly sourced from South Korea.

    It had helped in improving the brand image of North Korean products in the minds of South Korean people.

  • Data

    Economic comparison: South vs North

  • Although North Korea does not release its economic data, according to the South Korean central bank, North Korea's GDP is about $28.5 billion or 2% of South Koreas's GDP.

  • 10 Feb 2016

    South Korea announces suspension of complex

    South Korea announces suspension of complex
    Credits:
  • South Korea announced that it would suspend the operations at Kaesong industrial complex as a means to cut foreign money supply to North Korea.

    South Korea alleged that North Korea used this money to pursue its missile and nuclear programs.

    However, the South Korean industry is opposing the decision as the move would escalate anxiety among South Korean people besides affecting the companies.

  • 11 Feb 2016

    North Korea military takes over Kaesong

    North Korea military takes over Kaesong
    Credits:
  • North Korea seized the assets of South Korea in the Kaesong industrial complex and had put the complex under military control.

    North's response came after Seoul suspended operations at Kaesong which North termed as a "dangerous declaration of war".

    Pyongyang also ordered the shutting off vital cross-border communication hotlines between the 2 nations.

    Seoul termed the seizure of assets at the factory as "illegal".

  • 12 Feb 2016

    S. Korea cuts utilities of Inter-Korean industrial complex

    S. Korea cuts utilities of Inter-Korean industrial complex
    Credits:
  • South Korea has cut the power and water supply of the Inter-Korean industrial complex located in Kaesong, North Korea.

    It was done after North Korea ordered a military takeover of the complex and deported all the South Korean workers.

    This has further escalated the tensions between the 2 nations which were already at their peak after North Korea launched a satellite earlier this week.

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