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.
hkim@yna.co.kr
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