South Korea to revive foundation supporting suspended inter-Korean factory complex

Seoul, Oct 14 (IANS) The South Korean government plans to reinstate a now-defunct foundation supporting the Kaesong Industrial Complex as part of its efforts to reopen the suspended inter-Korean factory zone in the North Korean border town of Kaesong, Unification Minister Chung Dong-young said on Tuesday.

The minister disclosed the plan during a parliamentary audit session of the unification ministry as the government seeks to mend strained ties with North Korea, Yonhap News Agency reported.

The Kaesong Industrial Complex, once a symbol of inter-Korean cooperation, has remained closed for a decade since Seoul suspended its operations in February 2016 in response to North Korea's nuclear and missile provocations.

In March last year, the Kaesong Industrial District Foundation, a body under the unification ministry responsible for services for South Korean firms operating in the complex, was disbanded under the former conservative Yoon Suk Yeol government.

"By reviving the Kaesong Industrial District Foundation, the government will prepare for the reoperation of the complex," Chung said.

Currently, the unification ministry is conducting a procedural review for the foundation's reinstatement, according to the ministry.

The outlook for the industrial zone's resumption, however, remains grim, as North Korea continues to be highly negative toward any engagement with Seoul.

Chung also reaffirmed the Lee Jae Myung administration's "END" initiative to promote peace with the North -- "exchange," "normalisation" and "denuclearisation" -- released during his address at the UN General Assembly last month, vowing to maintain a consistent approach in seeking peace.

"The government will make consistent efforts to ease tensions and recover trust," Chung told the parliamentary Foreign Affairs and Unification Committee.

The minister reaffirmed the "END" initiative, saying the ministry's efforts to resume dialogue with North Korea and promote peace on the Korean Peninsula will be based on the vision.

The initiative calls for promoting exchanges with North Korea, normalising inter-Korean ties and denuclearisation of the Korean Peninsula, a vision serving Lee's policy of easing military tensions and building peace on the peninsula.

--IANS

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