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South Korea and North Korea agree to reopen Kaesong Industrial Complex

The agreement was reached at the 7th round of inter-Korean negotiations

Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

SEOUL, August 14 (Itar-Tass) - South Korea and North Korea agreed on Wednesday to reopen the Kaesong Industrial Complex, the Yonhap news agency reports.

The agreement was reached at the 7th round of inter-Korean negotiations. The previous six rounds failed to yield any result, mainly because of differences in the stances of the two countries.

According to the ROK Unification Ministry, the talks started at 10:00 local time.

123 South Korean companies operated there manufacturing various products, including clothes, footwear, electronic devices, and crockery. The Kaesong complex is the product of the historic meeting between the leaders of the two Koreas in 2000. Until recently it was the only operational example of economic cooperation between the North and South.

According to the DPRK's version, in April, the admission to the complex for 53,000 North Korean workers was barred due to "political and military provocation" on the part of ROK.

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