▲ This image shows the Kaesong Industrial Complex in the North Korean border town of Kaesong, seen from South Korea's border city of Paju on Jan. 11, 2026. (Yonhap)

inter-Korean projects-sanctions

Businessmen with investments in N. Korea urge gov't to lift sanctions on inter-Korean projects

SEOUL, Jan. 14 (Yonhap) -- Businesspeople with investments in now-suspended inter-Korean projects on Wednesday called on the government to lift its unilateral sanctions imposed in 2010 that ban joint businesses with North Korea.

Ten organizations with interests in inter-Korean projects, including associations of investors in the once-thriving Kaesong Industrial Complex and the Mount Kumgang tourist zone, made the call at a press conference.

The businessmen were referring to far-reaching suspensions of joint economic projects with North Korea announced on May 24, 2010, under the former conservative Lee Myung-bak administration following the North's deadly torpedoing of the South Korean Navy frigate Cheonan in March that year.

Under the action, Seoul suspended trade, investment and all assistance programs with North Korea, except for humanitarian aid.

"The May 24 measures dealt a fatal blow to companies involved in inter-Korean economic projects and blocked all economic lifelines," an association official said.

"The government should open up the passage for the private sector and companies to do business legally at a time when dialogue between the South and North governments is difficult," the official added.

The businessmen pointed to North Korea's increasing economic projects with China and Russia, saying they also plan to engage in direct or indirect business with the North once the sanctions are lifted.

The call came as the unification ministry plans to consider lifting the 2010 sanctions as part of an effort to ease tensions with North Korea and resume dialogue.

Even if the sanctions are lifted, it would likely be only symbolic as international sanctions by the United Nations Security Council effectively prohibit doing business with Pyongyang.

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