Romanson denies report about possible withdrawal from N. Korea complex

SEOUL, April 7 (Yonhap) -- Romanson Co., a South Korean watchmaker that has a plant at an inter-Korean industrial complex in North Korea, denied Tuesday an earlier report that it was considering pulling out of the complex in the wake of the North's rocket launch.

Defying a chorus of international warnings, North Korea fired off a three-stage
long-range rocket on Sunday, which flew over Japan and fell into the Pacific
Ocean, demonstrating the country's progress in missile technology.
The inter-Korean factory park in the North's border city of Kaesong, where 101
South Korean firms employ about 39,000 North Korean workers, now faces an
uncertain future, some observers say.
The complex continued to operate as normal despite the launch, but its factory
utilization rate has reportedly fallen amid deteriorating inter-Korean ties.
"That is not true," an official at Romanson said in response to the report by the
Dong-a Ilbo, a leading South Korean newspaper, that the company was considering
withdrawing from Kaesong.
"It's nonsense. We couldn't pull out alone anyway because we are cooperating with
subcontractors there," the official said.
Shares of Romanson fell about three percent in early morning trading, but
rebounded to 2,240 won (US$1.68) per share, up 1.35 percent from the previous
session, as of 10:43 a.m. in Seoul.