SEJONG: South Korea’s finance minister said on Wednesday the government was discussing how to finance possible economic projects with North Korea, although any projects with Pyongyang must first be approved by the international community. “We’re internally carrying out preparations, in terms of what to prepare, and how to cooperate with the international community, and how to finance (possible inter-Korea projects),” Kim Dong-yeon told reporters in Sejong. Many speculate that the two Koreas will start joint infrastructure projects as soon as international sanctions on North Korea are lifted. Currently, North Korea is under sanctions imposed by the UN Security Council to stop its nuclear weapons and missiles programs. The Bank of Korea estimated earlier that the THAAD backlash knocked 0.4 percentage points off South Korea’s economic growth rate in 2017.

Source: Pakistan Today May 02, 2018 07:07 UTC