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

Italy high court backs govt in CIA kidnap case: ANSA | 12 March 2009
Spanish public workers strike against cuts | 9 June 2010
US-Russia nuclear talks hit snag: report | 12 November 2009

Dan Herron returns, leads Ohio State to victory over Illinois | 16 October 2011

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

Read more with google mobile : South Korea says factory park in North in turmoil

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 Monday, 18 May 2009
Canadian pianist in record-breaking concert
Iraqi Special Forces on the hunt for al Qaeda | International |
Zimbabwe's MDC asks AU, SADC to sort out deadlock | International |
Darfur rebels say Sudan army base seized | International |
Pain, progress, pride on day against homophobia
India's Congress prepares for government
Japan confirms '80 domestic swine flu cases'
Obama Credits "Honest, Thoughtful Dialogue" At Notre Dame Graduation
White House Budget Chief Says Economic "Freefall" Seems To Be Over
Treasury Aide To Help With Upcoming Supreme Court Confirmation Process
Congressional Republicans Weigh In On CIA, Pelosi Feud
Kidnapped California 3-Year-Old Reunited With Family
New York Officials Stage Mock Explosion; Largest Emergency Drill Since 9/11
Biden Reportedly Reveals Location Of "Secret" Vice Presidential Bunker
19 Arrested On Eve Of Obama's Planned Notre Dame Commencement Address
Wheel Falls Off Plane As It Lands In Buffalo
Boy's Body Found Buried In Albuquerque Playground Sandbox
"The Producers" wins rave reviews on German debut
Clouds on horizon for American Idol juggernaut? | Entertainment |
New Tom Hanks thriller fails to crack Code | Entertainment |
Congressional Republicans Weigh In On CIA, Pelosi Feud
Hamas, Fatah talks on unity gov't
Volkswagen, Porsche talks suspended amid spat
Sri Lanka fights Tiger remnants | International |
Myanmar's Suu Kyi faces trial, critics outraged | International |
Israel's Netanyahu to press Obama on nuclear Iran | International |
Afghan President's brother says survives ambush | International |
Japan opposition head revives election chances | International |
India's Congress cements power as markets surge | International |
China sex theme park comes to abrupt end | International |
After 60 years, Germans learn to love themselves | International |
Israel PM in US for talks on Mideast peace
Asia's dark pics make a splash at Cannes
AT&T to offer cloud-based storage as a service | Technology |
Swine flu spreads in Japan ahead of WHO meet
Japan confirms 93 swine flu cases
China retain badminton's Sudirman Cup
S.Korea bonds rise on weak shares; auctions eyed
Korea Hot Stocks
Seoul shares open down;N.Korea-related issues fall
NZ services sector weakens further in April-survey
Spain's Amenabar brings Cannes toga-clad philosophy flick
Billy Elliot adds more theater prizes ahead of Tonys | Entertainment |
Frenzied welcome home for Norwegian Eurovision winner
Fox contest seeks animated ideas | Entertainment |
Gays, lesbians in worldwide call for end to homophobia
New Terminator no fun without Schwarzenegger | Entertainment |
Box-office heaven for 'Angels and Demons'
Lars von Trier film Antichrist shocks Cannes | Entertainment |
Uruguay writer Mario Benedetti dies | Entertainment |
Astronauts to embark on last Hubble spacewalk
UK's Brown urges cleanup of scandal-hit politics | International |
Pakistan army battles Taliban; PM wins support | International |
Health ministers tackle pandemic flu, Japan in focus | International |
Turk president should stand trial: court | International |
Islamist rebels seize another Somali town | International |
Seoul vows support for NKorea estate
Tiger supremo's son killed: Sri Lanka military
EU cancels substantial aid to Fiji
Protests as nuclear fuel ship docks in Japan
Tight security for trial of Myanmar's Suu Kyi
Obama hosts Netanyahu as Mideast strains ties
Samsung bets on LCD TVs despite downturn | Technology |
Nokia unveils its cheapest 3G phone | Technology |
South Korea tries recharging road to power vehicles | Technology |
Antarctic team boosts medical care with 3D ultrasound | Technology |
South Korea says factory park in North in turmoil
Taiwan dollar slips on outflows, importers
Mussolini's mistress, love-child seen in Cannes
Handshakes, high fives return as US flu fears wane
Star-light Cannes feels pinch, early films shine | Entertainment |
Director defiant after Antichrist jeered | Entertainment |
Idol without Simon could prove turnoff: poll | Entertainment |
Woody Allen wins $5 million in lawsuit over his image | Entertainment |
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