SEOUL, Aug. 29 (Xinhua) -- South Korea and the Democratic People' s Republic of Korea (DPRK) officially signed an agreement on forming a joint committee to run the Kaesong industrial complex, Seoul's Unification Ministry said Thursday.
Under the agreement, Seoul and Pyongyang will set up a joint management committee for the Kaesong factory park that has one chairman and five members each from both sides sitting on board, according to the Ministry of Unification.
The committee, which will be in charge of running the industrial zone, plans to hold a regular meeting once every quarter. The first meeting of the joint committee will be held next Monday.
Four other subcommittees will be formed, including those in charge of guaranteeing personal safety, protecting assets, discussing passage, communications and customs, and strengthening global competitiveness.
The subcommittees, which will be composed of one head and around 3 members each from both sides, plans to gather regularly once a month.
Furthermore, the two Koreas plans to establish a standing secretariat to give administrative supports to the committee and subcommittees.
The agreement came around two weeks after the two Koreas agreed to reopen the jointly operated factory park in the DPRK's border town of Kaesong. The industrial zone, which 123 South Korean companies run factories, had been suspended for more than four months after the DPRK withdrew all of its workers from Kaesong in early April.
The formation of the committee will grant Seoul an equal say with Pyongyang on running the factory park. In the past, the industrial zone was managed solely by the DPRK's General Bureau for Development Guidance of Central Special Zone. \
China expresses support for DPRK-South Korean deal on industrial park
BEIJING, Aug. 16 (Xinhua) -- Chinese Foreign Minister Wang Yi on Friday expressed China's support for the agreement reached by the Democratic People Republic Korea (DPRK) and South Korea on the Kaesong Industrial Zone (KIZ).
China was glad to see the two sides strike the deal to reopen the KIZ, Wang said during talks with his South Korean counterpart Yun Byung-se over the phone. Full story
DPRK, South Korea reach deal on Kaesong Industrial Zone
PYONGYANG, Aug. 14 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) and South Korea reached an agreement on Kaesong Industrial Zone (KIZ) on Wednesday, the official KCNA news agency reported.
According to the joint statement released by KCNA, Pyongyang and Seoul agreed to set up "Inter-Korean Joint Committee on the Kaesong Complex" to discuss compensation for damages inflicted on companies during the suspension of the KIZ, after their seventh round of working-level talks. Full story