It was a unique co-operation between two bitter foes: an industrial park that combined South Korean capital with 54,000 North Korean workers.
Now Seoul’s decision to shut the Kaesong park, 10km inside North Korean territory, has thrown into doubt the prospects for the 124 companies operating there — as well as the future co-operation between the Koreas and the stability of the divided peninsula.
“Litigation will be our last resort,” says Ok Sung-seek, who runs a clothing business at Kaesong and is vice-chairman of an investors’ association. “We trusted the [South Korean] government and invested there, not just for profits, but also to help the effort towards reunification.”
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