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North Korea announces annulment of trade and economic ties with South

March 10, 9:18 UTC+3 PYONGYANG
The announced decision would have a direct impact in the Kaesong industrial complex located to the north of the demilitarized zone separating the Korean Peninsula in two parts
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© AP Photo/Jon Chol Jin

PYONGYANG, March 10. /TASS/. North Korea announced on Thursday its decision to revoke all of its trade and economic agreements with South Korea pronouncing them as null and void, according to a statement from the North Korean Committee for the Peaceful Reunification of Korea.

The announced decision would have a direct impact in the Kaesong industrial complex, located in the border area between the North and South Koreas, but comes as not a surprise move as Republic of Korea’s Ministry of Unification stated in January that South Korea would set a limit for its citizens access to the Kaesong industrial complex in response to the hydrogen fusion bomb test of the DPRK on January 6.

About 1,200 people from South Korea used to come to the Kaesong complex daily. Seoul announced in January its plan for cutting the number to about a hundred people.

The Kaesong industrial complex was opened in 2004. It is located to the north of the demilitarized zone separating the Korean Peninsula in two parts since the signing of an armistice agreement after the 1950-1953 war. Some 120 South Korean companies are currently working on its territory.

South Korea’s Yonyhap news agency reported earlier in the day that North Korean military forces fired two short-range ballistic missiles from its eastern coast into the Sea of Japan in early hours of Thursday.

The news agency reported citing the country’s Joint Chief of Staff (JCS) that the two missiles were fired from North Korea’s Hwanghae Province and after flying a distance of some 500 kilometers (over 310 miles) fell into the sea to the northeast of the country’s eastern port city of Wonsan.

The short-range ballistic missiles were launched at 5:20 a.m. local time (20:30 GMT Wednesday), according to the agency.

Last week North Korea also held several launches of short-range ballistic missiles into the Sea of Japan, shortly after the UN Security Council announced a new set of sanctions against the country.

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