 |
Seoul: Set up Inter-Korean Business Arbitration Committee at Early Date
Seoul Friday urged for the establishment of an inter-Korean arbitration committee to settle business disputes in accordance with four inter-Korean agreements.
In a letter to the Democratic People's Republic of Korea through the truce village of Panmunjom, South Korean Vice Finance and Economy Minister Kim Jin-pyo said the two sides should establish the committee and strike an agreement on its scope of operations.
The inter-Korean committee should consist of 30 legal experts from each of the two sides and start operation, Kim said.
In the letter, Kim also called for early designation of a settlement bank for implementation of the agreement and asked for opening the inter-Korean economic cooperation committee at the earliest day to discuss the implementation of the four inter-Korean economic cooperation treaties.
Seoul and Pyongyang signed the four agreements for economic cooperation at the fourth inter-Korean ministerial talks held in Pyongyang on December 16 last year, agreeing to set up the arbitration committee within six months.
In This Section
|