Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

N. Korea Cancels Economic Cooperation Laws with South

Thu 08 Feb 2024 | 10:39 AM
Israa Farhan

South Korean media outlets have reported that North Korea has canceled economic cooperation laws between the two Koreas as tensions escalate between the neighbors.

The decision to cancel the Economic Cooperation Law between the Koreas, the Law of the Special Zone for International Tours in Mount Kumgang, its implementing regulations, and agreements related to economic cooperation between the Koreas was made at a general meeting of the Standing Committee of the Supreme People's Assembly yesterday, according to the Korean Central News Agency.

The decision comes amid worsening tensions between the neighbors after Pyongyang announced that there was no point in seeking reunification with the South.

During a party meeting at the end of the year, North Korean leader Kim Jong-un described the relations between the Koreas as "relations between two enemy states" and pledged to "crush all of South Korea's territory in an emergency."

This move comes less than a month after North Korea's decision to dismantle agencies dealing with inter-Korean affairs, such as the National Reunification Peace Committee, which is responsible for national economic cooperation, and another agency responsible for the Mount Kumgang tour project.

The Economic Cooperation Law between the Koreas, adopted in 2005, is considered a primary framework for such cooperation, while the law on the Special Zone for Mount Kumgang, adopted in 2011, provides details on investments in the area by the South and foreign entities.