Night Watch

South Korea-North Korea:In their seventh round of working level talks on 14 August, South and North Korea issued a joint statement on terms for resuming operations at the Kaesong industrial complex. The full text of the joint statement follows.

1. The two Koreas will not make Kaesong suffer again from the stoppage of the complex by such things as restrictions on passage and the withdrawal of the workforce. They will guarantee the normal operation of the complex, including the stable passage of South Korean personnel, North Korean workers' normal reporting to work and the protection of corporate assets, with the complex not to be affected by inter-Korean situations under any circumstances.

The two Koreas will set up the "Inter-Korean Joint Committee on the Kaesong Complex" to discuss compensation for damages inflicted on companies during the suspension of the complex and other related issues.

2. The two Koreas will guarantee the safety of South Korean personnel coming to and going from the complex, protect businesses' investment properties, and solve issues involving passage, communications and clearance.

1) The two will guarantee the safe passage of South Korean personnel to and from the complex, as well as their stay in the complex.

2) The two shall protect corporate properties in the complex, and work out institutional systems, including joint probes and compensation for damages, to settle disputes if illegal acts take place.

3) In order to tackle issues involving passage, communications and clearance, the two will take steps to guarantee the regular passage to and from the complex and Internet and mobile communications. They will simplify clearance procedures. The two will discuss related working issues at the Inter-Korean Joint Committee.

3. The two Koreas will guarantee conditions for international-level corporate activities for companies operating in the Kaesong Industrial Complex, and develop the complex into one with international competitiveness.

1) The two will actively promote the introduction of investment from foreign businesses.

2) The two will develop systems in relations to labor affairs, tax, wage and insurance, which are applied in the complex, into international-level ones.

3) The two will seek ways to make the complex internationally competitive, including the recognition of preferential tariffs for products from the complex in case of their export to a third country.

Night Watch

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