Yoon Administration Wants to Reclaim Loans Given to North Korea
This is laughable if the Unification Ministry has any expectation that the Kim regime will ever pay back these loans. Giving money to North Korea is like giving money to a methhead, you know what they are going to use the money for and should not expect to get it back:
The unification ministry said Monday it is reviewing measures to reclaim loans granted to North Korea for building inter-Korean roads and train tracks after the North blew them up in October.
The unification ministry unveiled the tentative measures as part of its policy plan for the second half of President Yoon Suk Yeol’s administration, which is now at the midpoint of his five-year term.
On Oct. 15, North Korea demolished parts of the roads and train tracks connected to South Korea — the Gyeongui Line in the western border region and the Donghae Line along the east coast — in its latest display of escalating hostility toward the South.
The unification ministry said a review is under way, in collaboration with other related ministries, to seek the collection of loans to North Korea amid concerns the country may refuse to repay them following its detonation of inter-Korean roads and train tracks.
From 2002-2008, South Korea provided in-kind loans worth US$132.9 million to North Korea to construct roads and train tracks along the two inter-Korean lines.
You can read more at the link.
They should never have given 1 Won to North Korea.
The intent isn’t to get the money back. It’s gone. The intent is to demonstrate NK isn’t paying the money back, and then use that for domestic political purposes.
GrayBlack is the smartest guy on ROK Drop.
GrayBlack is the smartest guy on ROK Drop.
Obvious comment considering you are patting yourself on the back.
@GrayBlack, I think only the biggest wacko leftist would think North Korea would ever payback any loan from the ROK. I don’t think Yoon is going to get much domestic political traction with this from the Korean public.
The people who manage Barely-There Biden have just forgiven $4,650,000,000 in “loans” to Ukraine.
BlackRock can’t have what is returned to the taxpayers.
They also had him encourage Ukraine to attack targets in Russia with American missiles that need American involvement to use.
Nobody involved makes money from peace.
If you thought the summer was horrible and fascinating, wait for Between Now and Trump.