SME Community Welcomes Discussion on Resuming Inter-Korean Economic Cooperation... Hopes for Breakthrough

"We Will Actively Cooperate with the Government"

The small and medium-sized enterprise (SME) community expressed optimism on July 10 following the National Security Council (NSC) meeting presided over by President Lee Jaemyung, where the restoration of inter-Korean relations, the establishment of peace on the Korean Peninsula, and the possibility of resuming inter-Korean economic cooperation were discussed.

On July 11, the Korea Federation of SMEs issued a statement saying, "We view the broad discussion at the NSC, including the possibility of resuming inter-Korean economic cooperation, as a demonstration of the new government's strong commitment to establishing peace on the Korean Peninsula and normalizing inter-Korean relations." The statement continued, "The Kaesong Industrial Complex is a symbol of inter-Korean economic cooperation. Because we share the same language and are geographically close, it offers a more favorable environment for SMEs in terms of collaboration and production than overseas expansion."

The statement added, "We hope that the recent NSC discussions will pave the way for inter-Korean economic cooperation and lead to the swift resumption of operations at the Kaesong Industrial Complex. The SME community will actively cooperate with the government to resume and revitalize inter-Korean economic cooperation."