ID :
24071
Sun, 10/12/2008 - 21:20
Auther :
Shortlink :
http://m.oananews.org//node/24071
The shortlink copeid
Business circles hail N. Korea's delisting from terror list
SEOUL, Oct. 12 (Yonhap) -- The South Korean business community on Sunday welcomed
the decision by the United States to remove North Korea from a list of countries
that sponsor terrorism, hoping this step will lead to improved cross-border
relations.
They said reduced tensions could fuel economic cooperation and have a stabilizing
effect on the domestic economy, which has been rocked by the current global
financial crisis.
A country on the U.S. State Department's terrorism list is effectively barred
from engaging in normal trade or receiving financial assistance from
international agencies. Before the latest move announced on Saturday in
Washington, North Korea, Cuba, Iran, Sudan and Syria were blacklisted.
Lee Seung-cheol, executive vice president at the Federation of Korean Industries
(FKI), said that many entrepreneurs were concerned about the ill effects of
tensions between South and North Korea.
"The move should help ease tension and have a positive effect, particularly if
North Korea moves to open itself to the outside world," he said.
The FKI official added if relations improve between the United States and North
Korea, it could help reduce geo-political uncertainties in Northeast Asia that
can help South Korea economically.
This view was echoed by Lee Hyun-Seok, executive director at the Korea Chamber of
Commerce and Industry, who said that Washington's decision could help the North
join the ranks of the international community and allow the private sector to
engage in wide ranging investments and ventures in the communist country.
Other business umbrella groups like the Korea International Trade Association and
Korea Federation of Small and Medium Business said getting North Korea off the
list could help investments at the Kaesong Industrial Complex, which have fallen
off in recent months as a result of inter-Korean tensions.
The Kaesong complex, located just north of the demilitarized zone that separates
the two Koreas, is considered the crowning achievement of an historic 2000 summit
meeting between leaders of the two Koreas.
the decision by the United States to remove North Korea from a list of countries
that sponsor terrorism, hoping this step will lead to improved cross-border
relations.
They said reduced tensions could fuel economic cooperation and have a stabilizing
effect on the domestic economy, which has been rocked by the current global
financial crisis.
A country on the U.S. State Department's terrorism list is effectively barred
from engaging in normal trade or receiving financial assistance from
international agencies. Before the latest move announced on Saturday in
Washington, North Korea, Cuba, Iran, Sudan and Syria were blacklisted.
Lee Seung-cheol, executive vice president at the Federation of Korean Industries
(FKI), said that many entrepreneurs were concerned about the ill effects of
tensions between South and North Korea.
"The move should help ease tension and have a positive effect, particularly if
North Korea moves to open itself to the outside world," he said.
The FKI official added if relations improve between the United States and North
Korea, it could help reduce geo-political uncertainties in Northeast Asia that
can help South Korea economically.
This view was echoed by Lee Hyun-Seok, executive director at the Korea Chamber of
Commerce and Industry, who said that Washington's decision could help the North
join the ranks of the international community and allow the private sector to
engage in wide ranging investments and ventures in the communist country.
Other business umbrella groups like the Korea International Trade Association and
Korea Federation of Small and Medium Business said getting North Korea off the
list could help investments at the Kaesong Industrial Complex, which have fallen
off in recent months as a result of inter-Korean tensions.
The Kaesong complex, located just north of the demilitarized zone that separates
the two Koreas, is considered the crowning achievement of an historic 2000 summit
meeting between leaders of the two Koreas.
