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Joint liaison office blown up in Kaesong Industrial Complex (KIC)

  • IASbaba
  • June 19, 2020
  • 0
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Joint liaison office blown up in Kaesong Industrial Complex (KIC)

Part of: GS-Prelims and GS-II – International Relations

In News:

  • North Korea blew up the joint liaison office (communication channel) with South Korea in Kaesong Industrial Complex (KIC). 
  • The demolition follows a recent deterioration in relations between North and South Korea.

Important value additions 

The Kaesong Industrial Complex (KIC) 

  • It is located inside North Korea just across the demilitarised zone from South Korea.
  • It was launched in 2004, largely financed by the South Korea to increase cooperation.
  • The purpose of the KIC was to develop an industrial park where South Korean companies could manufacture their products using North Korean labour.
  • It is a duty-free zone
  • There are no restrictions on the use of foreign currency or credit cards
  • No visa is required to enter the complex.
  • It is argued that KIC would help North Korea start to reform its economy, which is in a dire state, and ease tensions between the two Koreas. 
  • It is one of the last remaining points of peaceful engagement between North and South Korea.

Image source: Click here 

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