The government of North Korea has decided to cancel all economic cooperation agreements with South Korea. At the same time, the Supreme People’s Assembly now voted for the abolition of all laws regulating existing economic relations with the neighboring country.
South Korean President Yoon Suk-yeol described the official end of economic cooperation as an “extraordinary change.” It was difficult to understand what was behind it. Although Yoon has taken a tough stance against the North Korean government, he says he remains willing to reach out to the North. Even a summit with Kim is possible if it benefits the economy.
No peace treaty to date
Isolated North Korea and democratic South Korea are still officially at war. After the end of the war in 1953, a ceasefire was agreed, but to this day there is still no peace treaty. The two countries are separated by a 248 kilometer long demilitarized zone.
Source: Krone
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