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North Korea has scrapped inter-Korean economic cooperation laws as tensions between the two neighbors worsen, South Korean media reported.
The decision to abolish the Inter-Korean Economic Cooperation Law, the Mount Kumgang Special Zone Law, its implementation regulations, and agreements on inter-Korean economic cooperation was made at a general meeting of the Standing Committee of the Supreme People’s Assembly yesterday, according to the Korean Central News Agency, where it came. The decision came as tensions between the two neighbors worsened after Pyongyang declared that there was no point in seeking reunification with the South.
North Korean leader Kim Jong-un, during a party meeting at the end of the year, described inter-Korean relations as “relations between two countries hostile to each other” and pledged to “crush the entire territory of South Korea in a state of emergency.”
The move comes less than a month after North Korea decided to dismantle agencies that handle inter-Korean affairs, such as the National Committee for Peaceful Reunification, an agency responsible for national economic cooperation, and another agency responsible for the Mount Kumgang trekking project.
The Inter-Korean Economic Cooperation Act, adopted in 2005, is an initial framework for such cooperation, while the Mount Kumgang Special Zone Act, adopted in 2011, contains details about investments in the region by the South and foreign entities.
Source: Yonhap
2024-02-08 21:05:12