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N. Korea declares inter-Korean contracts on Kaesong venture invalid (more escalation)
Yonhap News ^ | 05/15/09

Posted on 05/15/2009 12:16:39 AM PDT by TigerLikesRooster

N. Korea declares inter-Korean contracts on Kaesong venture invalid

SEOUL, May 15 (Yonhap) -- North Korea said Friday it has nullified all contracts with South Korea on the operations of a joint industrial venture in Kaesong and told South Korean firms to leave the park if they cannot accept it.

"We declare the nullification of all incumbent regulations and contracts regarding the Kaesong industrial complex," the North's government agency in charge of the border-town industrial park said in a statement carried by its official Korean Central News Agency.

While threatening to terminate the existing contract terms, the agency vowed to install a set of revised regulations and contracts.

"The South Korean firms and pertinent personnel of the Kaesong industrial complex should unconditionally accept the revisions, and if they don't have intentions to accept them, they can leave," the statement said.


TOPICS: Foreign Affairs; News/Current Events
KEYWORDS: industrialpark; kaesung; nkorea; skorea
S. Korean strategy on this issue has been to let N. Koreans make a first move and shut down the industrial park. Apparently they got what they wanted.
1 posted on 05/15/2009 12:16:39 AM PDT by TigerLikesRooster
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To: TigerLikesRooster; AmericanInTokyo; Steel Wolf; nuconvert; MizSterious; nw_arizona_granny; ...

Ping!


2 posted on 05/15/2009 12:17:29 AM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: TigerLikesRooster

Kim’s narrowing his options. I wonder where and how he expects to find capital for his magic kingdom.


3 posted on 05/15/2009 12:21:13 AM PDT by tanuki (The only color of a leader that should matter is the color of his spine.)
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To: TigerLikesRooster

He and Obama seem to have the same game plan.

Chrysler to close 11 S.C. dealerships
Cutback could cost 900 jobs in state

http://www.thestate.com/local/story/787411.html


4 posted on 05/15/2009 12:26:15 AM PDT by Jet Jaguar
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To: tanuki
With the deployment of nuke-tipped ICBM. That has been his goal all along. Now that outside world is less cooperating than it used to, he will make a dash for it and install his junior as his successor. Especially so since he would be dead soon. He intends to survive by 2012 and complete his goal.
5 posted on 05/15/2009 12:26:44 AM PDT by TigerLikesRooster (LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
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To: tanuki

tanuki,

From what I’ve heard, in the last few years the U.S. has redesigned its currency to make it much more difficult to copy.
Seems the North Koreans had been counterfitting billions in U.S. currency.
So the only other way now I can see is through drugs which they also are committed to.


6 posted on 05/15/2009 3:57:30 AM PDT by Joe Boucher (yEP,i)
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To: TigerLikesRooster

North Korea, taking a page from Bambi’s guide to contract law.


7 posted on 05/15/2009 6:00:33 AM PDT by Eric in the Ozarks
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