The Sun Keeps Shining

by thekorean on February 11, 2012

Daewoo Shipbuilding announced that it would build a new shipyard in Hwanggeumpyeong, a special economic zone near the mouth of the Yalu River. Daewoo is working in conjunction with Rilin Group, a Chinese company based in Dandung, which abuts the Hwanggeumpyeong SEZ. Korean government official stated that, notwithstanding the freeze in North Korea investment following the sinking of Cheonan and the shelling of Yeonpyeong-do, nothing stops South Korean companies from making a joint investment with Chinese corporations.

So yeah. Lee Myeong-Bak administration let the last bit of counter-measure against North Korean fall by letting Daewoo invest into North Korea. The Sunshine Policy lives on.

{ 25 comments… read them below or add one }

1 hoju_saram February 11, 2012 at 11:05 am: Not sure it’s quite the same. Economic and industrial investment versus no-strings-attached handouts.
2 characteristic February 11, 2012 at 11:11 am: …or using your slush fund to bribe a dictator to shake your hand, and to win a prize of often (and rarely truly deserving) dubious honor.
3 Sperwer February 11, 2012 at 11:20 am: Sunshine? Hardly. Just the usual govt coddling of enterprises that can’t compete on their own.
4 df February 11, 2012 at 11:32 am: Kaesong Industrial Complex was not shut down, why shut down this one?

The business of business is business!
5 engrishteacher February 11, 2012 at 5:35 pm: Money is what it’s about. That’s what I never understood about the Sunshine Policy, South Korea and America feeding and sustaining the army they may have to fight in the future. Boggles the mind folks.
6 CactusMcHarris February 12, 2012 at 12:08 am: No wonder the DPRK thinks the ROK is its bitch – all carrot, no stick!
7 thekorean February 12, 2012 at 12:57 am: Not sure it’s quite the same. Economic and industrial investment versus no-strings-attached handouts.

Because LMB administration has never done any no-strings-attached handouts, right?
8 cm February 12, 2012 at 8:50 am: “Because LMB administration has never done any no-strings-attached handouts, right?”

No because LMB administration has not done nearly as much no-strings-attached handouts as the Roh-Kim administrations who virtually robbed the South Korean coffers up to tens of billions of dollars, to give to the North, unconditionally. Don’t you dare compare the traitorous acts committed by the Roh-Kim administrations with anyone else. Nobody can even come close to holding the candles to those stooges.
9 hoju_saram February 12, 2012 at 10:22 am: Because LMB administration has never done any no-strings-attached handouts, right?

Sure they have. I’m no fan of LMB, I just think this is more of a case of questionable investment, which is a good sight better than Sunshine charity.
10 thekorean February 12, 2012 at 1:03 pm: the Roh-Kim administrations . . . virtually robbed the South Korean coffers up to tens of billions of dollars, to give to the North, unconditionally.

You are dreaming if you think tens of billions of dollars went to NK during the 10 years of progressive administrations. But then again, when it comes to progressives in Korea, you lose all contact with reality.

I’m no fan of LMB, I just think this is more of a case of questionable investment, which is a good sight better than Sunshine charity.

What charity? Outside of the money spent to hold the inter-Korean summit, there was no charity under Sunshine. There was humanitarian aid (which continued in LMB administration) and investments (which is continuing under LMB administration now.)
11 Arghaeri February 12, 2012 at 1:16 pm: there was no charity under Sunshine. There was humanitarian aid

Can anyone else spot the problem with this
12 bumfromkorea February 12, 2012 at 1:28 pm: Can anyone else spot the problem with this

I think you’re severely missing his point.

there was no charity under Sunshine. There was humanitarian aid which continued in LMB administration)

Does that help?
13 thekorean February 12, 2012 at 1:32 pm: I think you’re severely missing his point.

냅두세요, 그게 종특인 것 같애. 말귀 못 알아듣고 쓸데없이 싸움 거는거. 대꾸하기도 귀찮네요.
14 Arghaeri February 12, 2012 at 1:36 pm: Nope, got his point, didn’t query his point, queried his logic.

I commented on the logic crisis, humanitarian aid is charity, ergo it can’t continue because in his own words there was no charity.

Does that help?
15 Sperwer February 12, 2012 at 1:42 pm: Yeah, his ideology has over-powered his intelligence — again.
16 Arghaeri February 12, 2012 at 1:42 pm: Nice TK!
17 hoju_saram February 12, 2012 at 6:51 pm: Humanitarian aid = charity. Roh/Kim charity > LMB charity.
18 cm February 12, 2012 at 10:48 pm: “But then again, when it comes to progressives in Korea, you lose all contact with reality.”

You still have not answered my question regarding your party’s insistence on canceling the FTA with the US once they get elected. Are you embarrassed, first with their Mad Cow conspiracy in 2008, and now this?

Let’s face it TK, the party is not a progressive party. It’s a socialist nationalist party.
19 thekorean February 13, 2012 at 6:08 am: You still have not answered my question regarding your party’s insistence on canceling the FTA with the US once they get elected.

When did you ask that question? And what does that have to do with this post?

Are you embarrassed, first with their Mad Cow conspiracy in 2008, and now this?

No, I think they are doing great. Are you embarrassed about the fact that GNP is now Saenuri, with a party logo resembling a urinal, income polarization and youth unemployment is as high as ever, and your party officials can’t keep their hands off of other people’s money?
20 Charles Tilly February 13, 2012 at 6:27 am: cm:

Are you embarrassed, first with their Mad Cow conspiracy in 2008, and now this?

TK:

No, I think they are doing great.

I’ve read that both sides have got some problems as of late.
21 virtual wonderer February 13, 2012 at 9:07 pm: http://blogs.wsj.com/korearealtime/2012/02/13/daewoo-no-plans-for-north-korea-shipyard/
22 Ryan Russell February 14, 2012 at 6:33 am: Interesting…especially the quote from Daewoo’s spokesperson referencing prospective subterranean resource development as a factor in Daewoo’s decision to invest in 황금평.

From the article, it sounds like the government was far from encouraging this investment – which could be a very good sign.

The optimist in me refuses to give up hope that someday, someone will find a way to turn a buck in North Korea while improving the situation on the ground….
23 Ryan Russell February 14, 2012 at 6:35 am: …and the cynic in me should have guessed @21.
24 redwhitedude February 15, 2012 at 5:12 am: If only Kim Joung un would put all of NK for sale like the Louisana purchase…
25 gbnhj February 15, 2012 at 10:16 am: Well, it’s not as if it couldn’t have happened, but rather that it would have been really foolish for them to have done so. Guess the stone-throwing was premature.