SEOUL: South and North Korea signed an agreement Thursday to establish a new joint committee empowered to run their joint industrial complex in the communist country, a Yonhap report said.
The move came a little over two weeks after drawn-out negotiations were concluded to reopen the Kaesong Industrial Complex, which the North unilaterally shuttered in early April amid heightened tensions on the Korean Peninsula.
The committee is an integral part of the August 14 deal that calls for the reopening of the industrial complex, while adopting safeguards to prevent any work stoppages in the future.
It gives Seoul an equal say as the North in running the complex.
In the past, the North Korean body, dubbed the General Bureau for Central Guidance to the Development of the Special Zone, effectively ran Kaesong.
Seoul's Ministry of Unification said that under the agreement, the two sides will appoint one chairperson and five members to sit on the committee board.
"The committee will be tasked with improving rules for running the factory park and discuss and resolve all issues raised by both parties," an official said, according to Yonhap. (QNA)
