S. Korean watchmaker shows no intent to invest more in Kaesong

SEOUL, Nov. 12 (Yonhap) -- Romanson Co., a South Korean watchmaker, said Thursday
it has no intention to further invest in an inter-Korean industrial complex
because of the political risks.
Romanson operates a plant in the industrial park in the North Korean border town
of Kaesong, which turns out 40,000 watches per month. In 2005, the company
invested 6.1 billion won (US$5.3 million) to build the factory.
"We are satisfied with wage levels and North Korean workers' technology-learning
ability, but political risks are burdensome," said company President Kim Ki-seok.

Romanson recently sold a land lot in the industrial complex, he added.
Currently, more than 100 South Korean firms operate with about 40,000 North
Korean workers in the Kaesong complex, an outcome of the first inter-Korean
summit between then South Korean President Kim Dae-jung and North Korean leader
Kim Jong-il in 2000.
Since the inauguration of a conservative government in South Korea in 2008,
inter-Korean relations have been strained over the North's nuclear ambitions and
missile tests.
Tension is currently running high after the navies of the two Koreas clashed in
waters along the disputed western sea border on Tuesday, with each side blaming
the other for violating the border and firing first.
(END)