The foundation meant to support the now-shuttered inter-Korean factory park in the North Korean border city of Kaesong was set to hold a board meeting Wednesday to approve its dissolution amid frosty inter-Korean ties, government officials said.
The government earlier decided to dismantle the foundation — set up in 2007 to assist the operation for the Kaesong Industrial Complex — as it has almost ceased to function since Seoul’s 2016 shutdown of the joint factory park over North Korea’s nuclear and long-range missile tests.
Later in the day, the foundation will hold a board meeting to approve a proposal to dismantle the organization and designate a liquidator.
The government will entrust the foundation’s tasks to the South-North Korea Exchanges and Cooperation Support Association, a public organization handling inter-Korean exchange affairs
The unification ministry is currently reviewing legal action against North Korea over its continued unauthorized operation of the factory park. The North is believe
d to be running around 30 South Korean-owned facilities illegally.
The factory park, once a symbol of inter-Korean reconciliation, was home to more than 120 small South Korean plants that produced garments and other labor-intensive goods by employing more than 54,300 North Korean workers.
Source: Yonhap News Agency