Starting To Heat Up, North Korea Cancels The Law On Economic Cooperation With South Korea

Kim Jong-un (Photo: KCNA)

JAKARTA - North Korea has canceled a law related to economic cooperation with South Korea. His party made the cancellation amid soaring tensions between the two countries.

The cancellation of the law was decided in a plenary meeting of the North Korean parliamentary permanent committee on Wednesday, February 7, North Korea's news agency KCNA reported.

Quoting Antara, the legal basis for economic cooperation with South Korea that North Korea canceled includes laws on inter-Korean economic cooperation, on special areas of international tourism, Mount Kumgang and regulations for its implementation, as well as agreements on inter-Korean economic cooperation.

The inter-Korean economic cooperation law, passed in 2005, is considered the basis for the cooperation.

The law on the special area of Mount Kumgang, which was passed in 2011, details regulates South Korean investment and other foreign entities in the area.

The decision was made less than a month after North Korea dissolved national agencies handling relations with South Korea, such as the National Committee for Peaceful Reunification in the Country.

The institutions that were also disbanded were the bodies responsible for national economic cooperation as well as the tourism management agency Gunung Kumgang.

North Korean leader Kim Jong Un, in a party meeting at the end of last year, said the current inter-Korean relations were "two hostile countries". He also vowed to "condemn" South Korea in the event of an emergency.

Meanwhile, South Korea's Unification Ministry in charge of relations with North Korea said North Korea's move was not surprising.

However, South Korea said that the decision would further isolate the country.

A ministry official said that South Korean authorities still had no plans to respond to North Korea's actions in the near future. He added that North Korea's unilateral decision did not immediately cancel the economic cooperation agreement.