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Two Koreas Reach Industrial Zone Deal

North and South Korean officials have reached an agreement about re-opening the Kaesong joint industrial zone, officials from Seoul say.

Operations there have been suspended since April when the North withdrew its workers amid rising political tensions.

On Wednesday the South’s Unification Ministry said a five-point accord had been agreed, but it remains unclear when operations might resume.

It comes after Seoul called for “final talks” following six previous rounds.

The agreement was signed by the chief delegates from the two Koreas, reports the Yonhap news agency. There are few details about the accord, but Yonhap says the deal is believed to ensure that a similar suspension of operations could not be repeated.

“The South and the North will prevent the current suspension of the Kaesong industrial complex caused by the workers’ withdrawal from being repeated again,” the Agence France-Presse news agency also quoted from the agreement.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza