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South Korean business leaders to attend inter-Korean summit in Pyongyang

South Korean business leaders to attend inter-Korean summit in Pyongyang

World
SEOUL, Sept. 13 (UPI) -- Heads of major South Korean conglomerates will be part of the South Korean delegation for the third North-South Korea summit in Pyongyang next week, South Korean media reported Thursday. Some 10 to 15 business leaders of Samsung, Hyundai, SK and LG will visit Pyongyang next week with South Korean President Moon Jae-in for the third summit between Moon and North Korean leader Kim Jong Un, according to Maeil Business. Those invited include vice chairman of Samsung Electronics and de facto leader of South Korea's largest Samsung Group Lee Jae-yong, vice chairman of Hyundai Motor Company Chung Eui-sun, chairman of SK Corporation Choi Tae-won, CEO of LG Group Koo Kwang-mo and Hyundai Group chairwoman Hyun Jeong-eun. The business magnates will be part of a 200-member So...
Economists, business owners hopeful after inter-Korean summit

Economists, business owners hopeful after inter-Korean summit

World
SEOUL, April 29 (UPI) -- South Korean economist have cast rosy prospects for the future, after the two Koreas reached a landmark agreement on Friday to pursue the full denucearization of the Korean Peninsula, an end to war, and improved relations between the two sides.A survey conducted by Maeil Business Daily on 50 economy and business experts found 82 percent viewed the inter-Korean summit positively. Nearly half of them said the results were good, and 36 percent said the results were "Very good." Only three experts were disappointed with the outcome of the summit.While the two Koreas agreed to cooperate for the peaceful and prosperous co-existence of the South and North, through easing military tensions and various government and civilian exchanges, the agreement did not include economi...
North Korea threatens inter-Korean relations could suffer amid criticism

North Korea threatens inter-Korean relations could suffer amid criticism

World
SEOUL, South Korea, Feb. 4 (UPI) -- North Korean media has warned its relations with the South could suffer, heavily criticizing Seoul's position on denuclearizing the Korean peninsula.The daily Rodong Sinmun, issued by the North's ruling Workers' Party, published a commentary on Sunday, blasting the South Korean Defense Minister's remark last week that "the North's leadership will be wiped off the map, should it use its nuclear weapons."Defense Minister Song Young-moo had said the South will "strongly respond to North Korea's provocations" while utilizing measures such as sanctions and talks to achieve denuclearisation of the Korean Peninsula.He called on the international community to "proactively implement sanctions" against the North which he said poses the "most serious and imminent" ...
South Korea's ex-president “unilaterally ordered” shutdown of inter-Korean complex

South Korea's ex-president “unilaterally ordered” shutdown of inter-Korean complex

World
SEOUL, South Korea, Dec. 28 (UPI) -- South Korea's impeached ex-President Park Geun Hye ordered the shutdown of the inter-Korean Industrial Complex last year, a government report showed Thursday.The report revealed the findings of a Unification Ministry panel tasked with reviewing the previous administration's North Korea policies, including the closure of the Kaesong Industrial Complex. The nine-member committee was launched in September this year, according to News 1.Located just above the inter-Korean border, the Kaesong factory zone hosted a total of 124 South Korean companies. More than 54,000 North Korean workers were hired to produce clothes, utensils and other labor-intensive goods.Three days after the North's rocket launch on February 7, 2016, the previous government announced tha...