ROK seeks DPRK business registration system

According to KBS:

South Korea says it plans to implement during the first half of the year a registration system for South Korean firms that trade goods with North Korea.

An official from the Unification Ministry in Seoul said Monday that revisions must be sought on the law governing inter-Korean exchanges and cooperation in order to introduce the registration system.

The official said that the government will conclude such legal revisions within the first half of the year.

The ministry plans to propose a related bill before May in hopes of winning parliamentary approval for the plan by June.

The ministry had unveiled plans to introduce such a system when it briefed President Lee Myung-bak late last year on its key policies for 2011.

Additional Information:

1. The DPRK is working to bypass ROK trade restrictions.

2. The South Korean government is investigating companies suspected of trading with the DPRK.

Read the full story here:
S.Korea Seeks Registration System for Firms Trading with NK


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