North Korea Blocks Access To Kaesong Industrial Park

North Korea Blocks Access To Kaesong Industrial Park

In the latest twist of events at the Korean Peninsula, North Korea has blocked access into the Kaesong Industrial Park , which located north of the demilitarized zone.

The latest move by Pyongyang signaled the intensification of the tension between the two countries in the peninsula. The deputy foreign minister of China met with the ambassadors of North and South Korea as well as the United States to indicate its serious concern on the event happening in the peninsula. The meeting showed the apprehension of China that the situation was gradually becoming unmanageable.

North Korea indicated that it will allow South Korean employees to return home. However, it added that only thirty-six went home and factories have continued to operate.

The ones who remained may face a possible food shortage since supplies have to be trucked in from the South. Some experts have indicated that the move of the North may not last since the park provides the much-needed finances for Pyongyang. It employs around 50,000 North Koreans and has 123 companies producing cheap goods like clothing.

According to Lee Eun-haeng, who has a clothing factory in the park, trust between the two countries will collapse as well as buyers of the goods. The park holds a symbolic value for the two countries. It provides the North with cash while the South will be able to show the prosperity its citizen enjoy.

The current situation stemmed from the sanctions imposed by the United Nations on North Korea for the nuclear test it conducted on February 12. It was aggravated by the annual war games staged by the United States and South Korea, which the North claims to be a lead up for an invasion.

Washington revealed that the North has not made any preparations for war despite the rhetoric. This hints at the possibility that it may be connected to efforts of Kim Jong-un to strengthen his grip in the country prior to the birth anniversary of the founder of the North, Kim Il-sung, on April 15.

The financial markets in South Korea were initially affected by the news of the closure of the Kaesong Industrial Park. The won currency went down to its lowest level in over six months however it was able to recover.

A South Korean worker, who works at the park, revealed that the past month showed that a change in the disposition of the soldiers of North Korea was noted when tensions started to escalate.

Posted by James Fried on Thursday April 04 2013, 5:33 AM EST. Ref: Reuters. Link. All trademarks acknowledged. Filed under Featured News, World. Comments and Trackbacks closed. Follow responses: RSS 2.0