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North Korea launches economic threat


North Korea

North Korea launches economic threat

North Korea’s military threats against the South and the US have now turned into economic ones. The latest warns of a shut down of the Kaesong factory complex.

The industrial park stands as the last significant symbol of cooperation between Pyongyang and Seoul.

It is jointly operated but is more vital to the north’s economy as it provides 72 million euros a year in wages for the thousands of North Koreans who work there.

Threatening to shut Kaesong comes after a build up of tension on the Korean peninsular.

Leader Kim Jong-un has already said his country is entering a ‘state of war’ with the South and has readied rockets to strike at US targets.

Pyongyang is angry at a hike in sanctions imposed after it defied the west and conducted a third nuclear test in February.

But while the rhetoric has become more bellicose few believe Kim will risk an all-out war.

Analysts see it as a strategy to up the pressure on South Korea and the US to soften their policies towards the North.

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