InfoAnda - South Korea says factory park in North in turmoil

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Haiti's prime minister submits resignation letter | | 25 February 2012
Philippine ferry rescuers battle strong waves | 16 December 2008
Pakistan Taliban release video showing forces' execution | | 18 July 2011

US-ENTERTAINMENT Summary | 7 April 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : South Korea says factory park in North in turmoil - Yahoo! Singapore News

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: South Korea says factory park in North in turmoil Reuters - Monday, May 18 By Jack Kim ADVERTISEMENT SEOUL, May 18 - South Korea's point man for North Korea said on Monday a joint industrial enclave it runs in the communist state is in turmoil after the North voided contracts governing the facility, sending shares in firms that operate there tumbling. North Korea said on Friday it was tearing up deals on labour, rent and taxes at the Kaesong Industrial Park, the last major economic project between the rival states where South Korean firms use cheap North Korean labour and land to make goods. [ID:nPEK58006] "Today, the Kaesong industrial zone is in crisis," Unification Minister Hyun In-taek told an academic seminar. Despite the North's threat, which analysts see as a hard-nosed negotiating ploy aimed at squeezing more money out of the South, the nearly 100 small and medium-sized South Korean firms that employ almost 40,000 North Koreans at Kaesong were operating normally on Monday, officials said. [ID:nSEO53910] Analysts said the North wants to raise rents and wages, which start at $70 a month per worker and are paid directly to its government, to levels that can increase its cash-starved coffers but are still cheaper than those in China or Vietnam. Shares in companies that have production units in Kaesong, located about 70 km northwest of Seoul, sank in early trading on fears that the plants could shut down, with watchmaker Romanson <026040.KQ> shedding more than 5 percent and garment maker Shinwon Corp <009270.KS> losing nearly 3 percent. "If the North thinks the South won't budge an inch, Pyongyang would not stop at just closing down the park. What would follow would be even more political tension, which can lead to increased military tension," said Paik Hak-soon, director at the Center for North Korean studies at Sejong Institute. Destitute North Korea, stung by tightened trade sanctions in response to its defiant rocket launch in April and decision to back away from a nuclear disarmament-for-aid deal, has been looking to obtain more money from South Korean companies in Kaesong. North Korea's already battered economy would likely take a further blow if it made good on a threat issued in recent weeks to conduct a fresh nuclear test. It was hit by U.N. sanctions after its first and only test in October 2006. [ID:nSP421458] South Korea has also called for the immediate release of one of its workers detained by the North at the park for about two months, who is accused of making derogatory comments about the country's communist system. (Additional reporting by Kim Junghyun and Park Jung-youn; Writing by Jon Herskovitz; Editing by Jonathan Hopfner and Valerie Lee) Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business India's Congress cements power as markets surgeReuters - Monday, May 18 Baidu in talks with workers on strike over pay -WSJReuters - Monday, May 18 Brazil to help Saudi Arabia with food suppliesReuters - Monday, May 18 New Tom Hanks thriller fails to crack 'Code'Reuters - Monday, May 18 German Opel trustee plan has not failed, Merkel saysReuters - Monday, May 18 Most Popular – Business Viewed Popular cereal is a drug, US food watchdog says Astronauts to embark on last Hubble spacewalk Coral Triangle could die by century's end: WWF British store admits it boobed in bra row Australian zoo evacuated after orangutan escape View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Friday, 10 November 2023
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01