Kaesong Industrial Park Update and Expansion

From the Korea Times:

Tuesday, February 7, 2006

By Hwang Si-young

KT Corp., the country’s No. 1 fixed-line telecom and broadband operator, will build a gigantic communications center at the Gaeseong Industrial Complex in North Korea by 2007, the company said yesterday.

“Many local companies are expected to set up plants in Gaeseong in a few years. To meet a growing demand for fixed-line telephone and internet services, we decided to build a large communications center, approximately 9,900 square meters in size,” said KT’s Gaeseong District Office director Joung Youn-kwang.

There are currently 11 companies based in Gaeseong Complex. They are permitted and approved by the Ministry of Unification and Korea Land Corporation to do their businesses in Gaeseong.

The size of the industrial complex currently stands at 92,400 square meters, but according to KT, it will be expanded more to around 3,300,000 square meters by 2007, housing 300 or more companies.

As of now, KT operates a small communications center using a two-story temporary building in Gaeseong.

The company is likely to build a center after the overall industrial complex expansion is completed, Joung said.

KT will soon begin negotiating with its North Korean counterpart to secure land and bring additional telecommunications equipment, the company said.

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