South Korea Planning To Conduct Joint Projects with North Korea

Judging by past history the odds are that the South Korean businesses involved with these joint projects will lose out on their investments, but I guess they are hoping things will be different this time:

South Korea is considering a resumption of economic projects with North Korea, but officials are choosing their words carefully since Pyongyang is still subject to international sanctions and the U.S. is still insisting on “maximum pressure.”

With detente seemingly setting in on the peninsula, Finance Minister Kim Dong-yeon hinted that the ministry has some plans for economic cooperation with the North. “I think of the issue, but it is not appropriate to [speak] about this now because the president asked us to deal with North Korean affairs very carefully, like handling a fragile glass cup,” Kim told reporters.

Seoul appears concerned about crossing lines set by the United Nations. Most recently, in December, a Security Council resolution limited the supply of crude oil and refined petroleum products to the North, while also banning the country from exporting its food and agricultural products.

But there are also rumblings that South Korea and its state enterprises are eyeing joint projects. Local media reported on Thursday that state-run Korea Expressway Corp. wants to build a highway connecting the South Korean border city of Munsan and Kaesong, a North Korean border city where the neighbors ran a joint industrial complex until 2016.  [Nikkei Asian Review]

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