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German firm to be 1st foreign firm to set up in joint North-South Korea Kaesong complex

Published on Jun 10, 2014 6:15 PM
 
South Korea on Tuesday, June 10, 2014, said it had green-lighted a German company supplying industrial needles to set up as the first foreign company in the Kaesong joint industrial zone (above) run with North Korea. -- PHOTO: ANDREW SALMON

SEOUL (AFP) - South Korea on Tuesday said it had green-lighted a German company supplying industrial needles to set up as the first foreign company in the Kaesong joint industrial zone run with North Korea.

Groz-Beckert will provide its needles to South Korean company operating in the Kaesong complex, which opened in 2004 as a rare symbol of cross-border cooperation, the South's Unification Ministry said.

"It will be the first foreign company to do business there, although its office is not a manufacturing facility," a ministry official told AFP.

The office will be manned by two North Korean workers and several staff from Groz-Beckert's branch in South Korea.

 
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