South Korea and North Korea signed Thursday an agreement, which envisages the creation of a committee for joint management of the Kaesong industrial complex. The formation of this body is envisaged in the bilateral agreements reached on August 14, the news agency Yonhap reported.
The improvement of the rules of management of the productions at the industrial park, discussion and settlement of all problems raised by either side are among the tasks of the committee, Yonhap cited a statement of the South Korean Ministry of Reunification. In his words, both countries appoint by one chairperson and five members of the board in the committee. This agency also includes five subcommittees, which will control the movement of staff, protection of investment, the work of communication lines and the customs services and will settle the issues for making the competitiveness higher on the world market. Additional subcommittees can be formed if necessary.
South Korea and North Korea also agreed to create a permanent secretariat in Kaesong that should provide for the work of the joint committee.
The first meeting of a new committee is scheduled for September 2.