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February 10, 2016

South Korea to Shut Down Kaesong Industrial Complex 개성공업지구

A map showing the border between North and South Korea and the cities of Seoul and KaesongThe South Korean government today announced plans to close the Kaesong Industrial Complex. Kaesong, also Romanized as Gaesong, is a city on the southern border of North Korea. Sageuk fans may remember it as the Korean capital during the Koryeo (or Goryeo) dynasty from the 10th-14th centuries, immediately preceding the Joseon era.

These days, Kaesong is home to 124 South Korean factories staffed by North Korean workers. The rather bizarre arrangement just goes to show that mutual greed overrides political principles when ruling elites collide. South Korean factory owners pay the North Korean workers about $74 a month. Minimum wage for South Korean workers is $5 an hour. MORE…