Inter-Korean Economic Talks Announce Joint Statement

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Last updated at: (Beijing Time) Friday, August 30, 2002

Inter-Korean Economic Talks Announce Joint Statement

The three-day inter-Korean economic cooperation talks concluded Friday with an eight-point joint statement, reported by South Korean national news agency Yonhap News.

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The three-day inter-Korean economic cooperation talks concluded Friday with an eight-point joint statement, reported by South Korean national news agency Yonhap News.

The delayed statement, released by delegations of the Democratic People's Republic of Korea (DPRK) and South Korea to the second inter-Korean economic cooperation talks, mostly focused on resuming construction work necessary to relink cross-border railways and roads.

On the reconnection of the inter-Korean railways and roads, the two sides agreed to kicked off the work on Sept.18 marked by official ceremonies respectively on each side. And the two sides agreed to complete Seoul-Shinuiju railways and roads by the end of the year and the spring of 2003, according to the statement.

The work of reconnection for the East Coast railways will be completed within one year, and South Korea shall provide the DPRK with necessary materials and apparatus needed for such construction in DPRK, added the statement.

Moreover, an inter-Korean working-level discussion between military authorities shall be held before Sept. 18 in order to solve security problems related to the connection project, said the statement.

South Korea also promised to offer 400,000 tons of rice and 100,000 tons of fertilizers on credit to the DPRK as soon as possible, said the statement.

It added the DPRK and South Korea agreed to begin construction of an industrial complex in the DPRK city of Kaesong within the year, and to form the Council for the Construction of the Kaesong Industrial Complex, which will hold the first session in October in Kaesong to discuss such issues.

The statement said the third inter-Korean economic cooperation talks will be held in Pyongyang on Nov. 6-Nov. 9.

Shortly after the joint statement was announced, the DPRK delegation left the Grand Hilton Hotel for the Gimpo Airport, where they took flight to Vladivostok, a Russian city. It was scheduled to return to Pyongyang later in the day.

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