North, South Korea Agree to Reopen Joint Industrial Complex (Photo: en.rian.ru)

The two Koreas agreed Wednesday to reopen their jointly industrial zone of Kaesong on a trial basis from next Monday after five months of suspension due to military tensions. The reopening date was sealed after a marathon 20-hour negotiation. It is a tangible step forward in efforts to improve cross-border relations. Seoul had pushed for compensation for the companies hit by the closure, and the two sides appeared to reach a compromise, agreeing to waive taxes for the firms this year. The complex provided an important hard currency source for Pyongyang. With 53,000 North Korean labors working for more than 120 South Korean companies, the complex collects hundreds of USD in turnover.