N. Korea Made $120 Mn A Year From Joint Factory Park: Report

North Korea raked in more than $120 million a year from a symbolic cross-border industrial zone that Pyongyang and Seoul are pushing to re-open as part of nuclear negotiations, a report said Monday

Seoul, (APP - UrduPoint / Pakistan Point News - 24th Jun, 2019 ) :North Korea raked in more than $120 million a year from a symbolic cross-border industrial zone that Pyongyang and Seoul are pushing to re-open as part of nuclear negotiations, a report said Monday.

The Kaesong Industrial Complex -- where around 55,000 North Korean workers churned out products ranging from watches to clothes for some 125 South Korean companies -- was one of the most visible signs of reconciliation that followed the first inter-Korean summit in 2000.

But it was shuttered by the South's then-conservative government in 2016 in response to a nuclear test and missile launches by the North, saying profits from Kaesong were funding Pyongyang's provocations.

The South's current President Moon Jae-in has dangled re-opening the complex as an incentive for Pyongyang to engage in denuclearisation talks, but doing so is complicated by the web of international sanctions imposed on the North over its weapons programmes.