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.
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