South Korea shuts down Kaesong Industrial Complex in North Korea

South Korea abruptly shut down an industrial complex located just over the border in North Korea on Wednesday, cutting off a major source of income for the regime in Pyongyang as punishment for its “extremely provocative” nuclear and rocket tests.

In an unusually harshly worded statement, the Seoul flatly accused the North of using money earned from inter-Korean projects for its nuclear and missile programs.

About $120 million flowed into North Korea through the Kaesong industrial complex last year alone, the South’s unification ministry said. In the 12 years since it was established, North Korea had earned a total of about $560 million from the complex.

The zone, where North Koreans worked in South Korean-owned factories, was opened during a period of engagement and was originally championed as a way to improve the North’s economy — with a long-range goal of minimizing the gap between the countries if they are eventually reunified.

-More at WashingtonPost

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