Two Koreas to reopen Gaeseong Industrial Complex next Monday
South Korean factories at the inter-Korean Gaeseong Industrial Complex will start running again after a trial run next Monday.
The agreement between the two Koreas, reached after overnight negotiations that stretched into early Wednesday morning, ends the five-month long suspension of operations at the joint business park.
North Korea unilaterally withdrew all of its workers from the complex in early April amid an escalation in inter-Korean tensions.
Under the deal, South Korean businesses with operations at the border town will be exempt from taxes for this year.
The two sides agreed to create a dispute arbitration panel for solving future conflicts at the Gaeseong Complex and to introduce electronic identification devices within this year to ease South Koreans' commute to the complex.
The joint committee on the Gaeseong Complex also agreed to make efforts to attract foreign companies to the business park.
One of the first steps will be inviting foreign investors in South Korea to the border town next month to explain business opportunities there.
The joint committee will hold further discussions on issues like allowing the use of mobile phones and the Internet in the business park within this year.
Another round of subcommittee meetings will be convened on Friday followed by a third round of talks by the joint committee on Monday.
The South Korean chief delegate to the joint committee said the two Koreas made progress in areas where they have not yet reached an agreement.
Hwang Sung-hee, Arirang News.
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