The Gaeseong Industrial Complex Business Association urged the government to draw up a plan to restore inter-Korean economic cooperation.
On the 28th, the association held a press conference at the Korea Federation of Small and Medium Enterprises in Yeouido and emphasized the need to resume inter-Korean economic cooperation, including restarting the Gaeseong Industrial Complex.
At the press conference, attendees included KBIZ Chairman Kim Gi‑moon, the inaugural president of the Gaeseong Industrial Complex Business Association; current president Cho Gyeong‑ju, chairman of Seokchon Ceramics; Moon Chang‑seop, chairman of Samdeok Trading; Lee Jae‑cheol, CEO of JeciCom; former presidents of the Gaeseong Industrial Complex Business Association; and about 20 tenant corporations.
Tenant corporations of the Gaeseong Industrial Complex, through an emergency press conference statement titled "Urgent statement urging a North Korea–U.S. summit and the restoration of inter-Korean economic cooperation," raised the need for: ▲ discussions on a North Korea–U.S. summit and settling peace on the Korean Peninsula ▲ preparing an execution plan to restore inter-Korean economic cooperation ▲ support from and cooperation with the international community for small and medium-sized enterprises' efforts at inter-Korean economic cooperation.
They also conveyed the view that, on the occasion of U.S. President Donald Trump's visit to Korea during the Asia-Pacific Economic Cooperation (APEC) period, various inter-Korean economic cooperation measures for settling peace on the Korean Peninsula, including restarting the Gaeseong Industrial Complex, should be discussed.
From 2004 to 2016, the Gaeseong Industrial Complex produced $3.23 billion across 124 corporations and employed 54,000 people, making it a representative inter-Korean economic cooperation model. In a survey by the Korea Federation of Small and Medium Enterprises in Oct., 8 out of 10 tenant corporations at the Gaeseong Industrial Complex said they hope to move back in.
Kim Gi‑moon, the KBIZ chairman who served as the inaugural president of the Gaeseong Industrial Complex Business Association, said, "The value of inter-Korean economic cooperation can be felt more acutely by corporations that have experienced it firsthand," adding, "Inter-Korean economic cooperation is a realistic breakthrough for small and medium-sized enterprises suffering from rising labor costs and labor shortages."
He added, "Taking this APEC as an opportunity, discussions should also be held on settling peace on the Korean Peninsula through the international community's inter-Korean economic cooperation, including restarting the Gaeseong Industrial Complex."