North Korea Puts A Full Stop To Economic Cooperation With South Korea

In a recent development, North Korea’s Supreme People’s Assembly has voted to terminate all agreements with South Korea concerning economic cooperation. This decision comes amid the ongoing deterioration of relations between the two nations.

What Happened: On Thursday, the Assembly, which formalizes policy decisions of the ruling Workers’ Party, has also voted to abolish laws governing economic ties with Seoul, reported Reuters. This includes the special law on the operation of the Mount Kumgang tourism project, a significant symbol of economic cooperation between the two Koreas.

The Mount Kumgang project, which began in the early 2000s, was suspended in 2008 after a South Korean tourist was shot and killed by North Korean guards.

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South Korea’s Unification Ministry, which handles ties with Pyongyang, has expressed that the North’s actions will further isolate the country. The Ministry does not recognize this unilateral move.

Why It Matters: North Korea’s decision comes amid a series of regional escalations. In January, North Korea’s leader, Kim Jong Un, labeled South Korea as the “primary foe” and expressed preparedness for potential conflict. He also announced significant constitutional amendments, stating that the prospect of unification with South Korea is no longer feasible.

Furthermore, North Korea’s recent missile launches have heightened concerns. The regime launched its fourth series of cruise missiles in two weeks, following Kim Jong Un’s call to intensify “war preparations” after visiting a naval shipyard.

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