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.
Ping!
Kim’s narrowing his options. I wonder where and how he expects to find capital for his magic kingdom.
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
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.
North Korea, taking a page from Bambi’s guide to contract law.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.