The Korea Herald

ssg
소아쌤

Foreign firms want Gaeseong to reopen

By Korea Herald

Published : July 8, 2013 - 19:55

    • Link copied

Almost 7 out of 10 foreign companies here say they want to see the normalization of the Gaeseong industrial park, the Korean Chamber of Commerce said Monday.

The park, in the aftermath of worsening inter-Korean ties, has been closed for three months.

Companies with manufacturing plants in Gaeseong have been hit hard by the closure.

The survey was conducted by the chamber on 300 foreign companies. Up to 66.2 percent said the park should be “normalized.”

Overall, they seemed to perceive the industrial park as an “economic buffer” between the two Koreas.

“The Gaeseong issue and inter-Korean economic exchange must become normalized for foreign capital to take an interest in Korea,” said Jeon Soo-bong of the chamber’s survey.

Policy initiatives for realizing the normalization included “diverse methods to open talks and increase exchanges,” which was supported by 46 percent of the respondents.

Another 24 percent called for China and other third parties to persuade North Korea, while about 13 percent said allowing civilian exchanges may be a solution.

The majority of the surveyed companies said measures should be put in place to prevent the recurrence of Gaeseong’s closure.

They suggested blocking North Korea from making one-sided demands and moves and a safety net to compensate losses.

The companies also cited “uncertainty” as the No. 1 problem that entails North Korean investment, along with lack of marketability. About 8 percent also answered they felt North Korea lacked the genuine willingness to change.

By Kim Ji-hyun (jemmie@heraldcorp.com)