Free Republic

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...

South Korean actress Kim Tae-hee, center, participates in a fashion show held by South Korean apparel maker Shinwon company in the inter-Korean industrial park in Kaesong, just a few hundred meters (yards) north of the heavily fortified Demilitarised Zone that divides the Korean peninsula, Thursday, May 26, 2005. Hundreds of South Koreans crossed the border into North Korea on Thursday to watch South Korean models strut down a runway in clothes made by North Korean workers at a new joint industrial park. (AP Photo/Lee Jae-Won, Pool)