This is interesting, if not unexpected (Yonhap):
ASEAN countries agreed to accept South Korea’s request to recognize some products from a North Korean industrial park as South Korean as part of their plan for a free trade pact, officials here said Thursday.
Under the agreement, nine out of the 10-member Association of Southeast Asian Nations will give preferential tariffs on 100 items manufacturered in the inter-Korean business complex in the North Korea’s border city of Kaesong, the Ministry of Foreign Affairs and Trade said in a statement.
As we all know, there is a major shortage of cheap labor in SE Asia that this deal will help address. Now consumers in Vietnam, Cambodia and Thailand* will not have to pay top dollar for overpriced shoes and pots.
One thing that gets me is how the Norks can accept this since it is a tacit recognition of Article 3 of the ROK constitution, which states “The territory of the Republic of Korea shall consist of the Korean peninsula and its adjacent islands.” That would certainly include Gaeseong.
On the other hand, the USA has refused to include Gaeseong in its proposed FTA with South Korea, pointing out that the DPRK has actual territorial control of the area.
*This piece says that Thailand did not agree to the FTA because of Seoul’ protection of its rice market. Thailand is a major rice exporter.
8 Comments
Nine out of ten ASEAN members signed on. Do you happen to know which country didn’t?
Well, I can be sure my country (Philippines) ain’t the one who didn’t sign.
The holdout was Thailand (see my update in the post) but they were pissed about Seoul’s rice protectionism rather than Gaeseong.
EDIT: that’s “that” not “who”. My bad (mi en may stoooopid gremer).
WTG Thailand the USA! Teach those sneaky North Koreans that only Russia is allowed to make counterfeit US dollars. I’m shocked that as many as 9 out of 10 ASEAN countries would approve of slave-labour made items.
Better dead than red!
–Remort
I’m shocked that as many as 9 out of 10 ASEAN countries would approve of slave-labour made items.
Well I’m not. Them ASEAN countries rarely disagree with each other with most things. It’s usually a case of monkey-see-monkey-do.
Gee, those bastions of democracy Vietnam and Cambodia will let S. Korea exploit N. Korean labor and buy the products, it’s shocking I tell you!
I wish we could get more Thai rice here in Korea. Much tastier, in my opinion.