SME federation chief mentions 2nd inter-Korean industrial complex

Kim Ki-mun, chairman of the Korea Federation of Small and Medium Business, a lobbying group for small and medium-sized companies in South Korea, said on Thursday that it would proactively review a plan to build another joint industrial complex in North Korea`s northeastern free trade zone, Rajin-Sonbong.

At the policy discussion during the “2014 Baekdu Forum” held at the city of Yanji in Jilin Province, China, Kim said there are increasingly loud calls for second and third Kaesong industrial complexes. The Rajin-Sonbong special zone is on the borders of China and Russia and as such is cited as a logistical hub.

Since first mentioning the intention to push for a second Kaesong industrial complex in February, candidate sites discussed were Kaesong and nearby Haeju region aside from the Rajin-Sonbong area.

In order to accelerate the building of a second Kaesong Industrial Complex, Kim plans to pursue a visit to North Korea for small-and medium-sized enterprise leaders. There are currently 123 companies in the decade-old Kaesong Industrial Complex.

The Baekdu Forum, which is in its fifth year, is an event where the Korea Federation of Small and Medium Business invites leaders of companies and academics to visit overseas industrial sites. In this year’s forum, some 60 businessmen and academics including Korea Small Business Association Chairman Choi Seung-jae, Samsung Electronics Vice Chairman Kang Ho-moon, and Naver CEO Kim Sang-heon attended.