Tue Jun 12, 2018, 05:58 PM

Inter-Korean exchanges likely to speed up

South and North Korea are likely to speed up the process of restoring their economic exchanges amid signs of thaws in relations between the North and United States.

South Korea will cooperate closely with the U.S. for inter-Korean rapprochement programs because these could violate international sanctions against North Korea, according to South Korean officials.

Ministries preparing for inter-Korean cooperation

With the historic summit between North Korean leader Kim Jong-un and U.S. President Donald Trump adding to expectation that the inter-Korean economic cooperation will gain momentum, government ministries are preparing for further progress.

Ministries that will be involved in diverse inter-Korean cooperation projects have either set up or are planning to form taskforces. They are assigning the task to competent officials whose capabilities have been confirmed.

Such preparations follow the determination that the government should make pre-emptive preparations, although inter-Korean economic cooperation will only see progress after the lifting of international sanctions.

Companies preparing for biz with NK

Following the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong-un in Singapore, companies in South Korea are readying themselves to navigate new business opportunities expected to come from economic cooperation between the two Koreas.

According to Choi Nam-suk, a professor at Chonbuk National University, Korea can expect 0.81 percentage points of additional economic growth in the next five years if denuclearization and economic integration on the Korean Peninsula are completed. Also, 128,000 new jobs are expected to be created.

The construction industry is expected to benefit the most as infrastructure, such as roads and railroads, was considered of vital importance by Kim during the inter-Korean summit earlier this year.

Following the move, large construction firms such as Daewoo E&C, Samsung C&T and GS E&C are gearing up for potential projects in the North.

The South Koreans will have to move quickly, otherwise the Chinese will beat them to the North Korean markets.

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Reply Inter-Korean exchanges likely to speed up (Original post)
Troll2 Jun 2018 OP
Da Mannn Jun 2018 #1

Response to Troll2 (Original post)

Tue Jun 12, 2018, 06:18 PM

1. Peace and prosperity will engineer regime change faster than any military intervention.

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