President Moon Wants Multinational Corporations to Come to Kaesong Industrial Complex If it Reopens
President Moon must be feeling pretty confident that in the short term the Kaesong Industrial Complex will reopen:
President Moon Jae-in vowed Friday to invite foreign companies to set up affiliates at the Gaeseong Industrial Complex (GIC) in North Korea if operations there are resumed.
“If operations at the Gaeseong complex resume, I will try to make it a place that houses multinational companies,” President Moon said at the start of a luncheon with businesspeople at Cheong Wa Dae, according to press pool reports.
Korea Times
The President appeared to be responding to remarks by Kim Ki-mun, head of the Korea Federation of Small- and Medium-sized Enterprises (SMEs), calling for the complex to be reopened to help small local businesses. Many of these are in a dire financial straits due to their investment in the complex, and a lack of new growth engines.
You can read more at the link, but Moon is probably betting that if large multinational companies set up shop in Kaesong that the Kim regime will be less likely to exhort South Korean businesses operating there like they have in the past.
For multinational corporations they will have to make a decision on whether they want their products built by near slave labor or not?
What a wonderful opportunity to cut labor costs by exploiting wormy serfs whose lives and families are dependent on a capricious whim of a homicidal narcissist.
I fully expect there to be multiple EU members standing in line.
Will the Moon administration give financial guarantees to insure foreign companies are properly compensated when arbitrary politics destroys the value of their investment?
No?
OK.
Thank you for your time, Mr. South Korean Negotiator. We have a flight to catch to Vietnam. I will have my people contact your people.
What’s a little more slave labor?