Unofficial Translation


Agreement at the First Meeting of the Joint Committee for Inter-Korean Economic Cooperation

In accordance with the Agreement at the First South-North Prime Ministerial Talks on Implementing the Declaration on the Advancement of South-North Korean Relations, Peace and Prosperity, the first meeting of the Joint Committee for Inter-Korean Economic Cooperation was held in Seoul from December 4 to 6, 2007.

The South and the North shared the view that inter-Korean economic cooperation projects should be actively facilitated and further developed in a consistent manner in order to promote a balanced development and co-prosperity of the Korean national economy.


Article 1

The South and the North have agreed to actively conduct the repair works of Gaeseong-Pyongyang highway and Gaeseong-Sinuiju railway for the joint use of Seoul-Sinuiju railway and road and the facilitation of freight transportation.

1. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on Inter-Korean Roads in Gaeseong from February 12 to 13, 2008 to discuss the scope of repairs and joint use of Gaeseong-Pyongyang highway based on the results of on-site survey.

2. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on Inter-Korean Railways in Gaeseong from January 22 to 23, 2008 to discuss such practical issues as the scope and direction of repairs and the joint use of Gaeseong-Sinuiju railway, and also discuss immediate repairs of the railway to be used by a joint cheering squad for the 2008 Beijing Olympic Games.


Article 2

The South and the North have agreed to actively cooperate on the construction of joint shipyards in Anbyeon and Nampo and the civilian vessels use of the direct route to Haeju.

1. The South and the North have agreed to conduct the second on-site survey starting from December 11 for the construction of a ship block plant to be built in Anbyeon and the modernization of Yongnam repair plant and the construction of a ship block plant in Nampo. The North has guaranteed to provide reference materials on electric facilities and amenities for workers who would be involved with the on-site survey.

2. The South and the North have agreed to discuss the establishment of necessary institutional mechanisms on entry, exit, stay, communication, customs clearance, quarantine and transaction of fund for the construction of the joint shipyards in Anbyeon and Nampo.

3. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on Shipbuilding and Maritime Transportation in Busan from December 25 to 28 to discuss and promote the construction of joint shipyards in Anbyeon and Nampo, the direct-route passage of civilian vessels to Haeju and procedural matters related to the passage.


Article 3

The South and the North have agreed to promptly resolve various issues on the facilitation of Gaeseong Industrial Complex.

1. The South and the North have agreed to cooperate on the supply of North Korean workforce necessary for the first stage development of the Gaeseong Industrial Complex and to discuss the construction of dormitories for the North Korean workers, the construction and use of roads for workers commuting to the Gaeseong Industrial Complex, and the operation of commuter train between Munsan and Gaeseong.

2. The South and the North have agreed to conduct land and geological survey starting December 17 for the second-stage development of the Gaeseong Industrial Complex.

3. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on the Gaeseong Industrial Complex in Gaeseong from December 20 to 21 to discuss allowing the South Korean people and vehicles to easily enter and exit the Gaeseong Industrial Complex from 07:00 to 22:00 and establishing a freight unloading site to guarantee fast and systematic customs clearance.


Article 4

The South and the North have agreed to establish and manage a Subcommittee for Cooperation on Inter-Korean Resources Development and hold the first meeting in Gaeseong in January, 2008. The two sides also have agreed to conduct the third joint on-site survey from December 20 to 26 for the investment cooperation in mining in Danchun area.


Article 5

The South and the North have agreed to pursue cooperation in the agricultural and fishery areas in a mutually beneficial way

1. The South and the North have agreed to carry out an on-site survey from December 21 to 25 to promote the construction of seed production and processing facilities and genetic resources preservation facilities. The two sides also have agreed to initiate cooperative projects including quarantine and disease prevention, exchanges and joint study of genetic resources, and exchanges of agricultural technologies within 2008.

2. The South and the North have agreed to actively pursue projects agreed at the First Working-level Consultations on Inter-Korean Fishery Cooperation and to discuss and promote entry of vessels and fishing in a designated area in the Northern side of the East Sea, processing of fishery products, breeding of high quality fish and cooperation in fish farming.

3. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on Inter-Korean Agriculture and Fishery in Gaeseong from December 14 to 15 to discuss and pursue cooperative projects in the agricultural and fishery areas.


Article 6

The South and the North have agreed to actively promote cooperative projects in public health, medicine and environmental protection fields.

1. The South and the North have agreed to conduct field surveys at an early date for cooperation on public health and medicine, including modernization and construction of hospitals and pharmaceutical factory, provision of medical equipment and resources, control of communicable diseases and advancement of Korean medicine, and agreed to discuss and pursue the construction of sanitary cotton factory as a priority project.

2. The South and the North have agreed to actively promote cooperation on environmental protection including ecosystem conservation and reduction of environmental pollutants, and to proceed with the construction and utilization of a tree sapling nursery, reforestation and prevention of blight and harmful insects starting in 2008.

3. The South and the North have agreed to hold the first meeting of the Subcommittee for Cooperation on Public Health, Medicine and Environmental Protection in Gaeseong from December 20 to 21 to discuss and pursue cooperation projects in public health, medicine and environmental protection.


Article 7

The South and the North have agreed to form and manage a Subcommittee on Institutions for Inter-Korean Economic Cooperation to discuss and promote the creation of investment-friendly environment and institutional mechanisms for entry, exit, stay, communication, customs clearance, settlement and commercial dispute settlement. To this end, the two sides have agreed to hold the first meeting of the subcommittee in Gaeseong in early April 2008.


Article 8

The South and the North have agreed to discuss various cooperative means to expand export and investment.


Article 9

The South and the North have agreed to hold the Second Meeting of the Joint Committee for Inter-Korean Economic Cooperation in Pyongyang in the first half of 2008.


Article 10

This agreement is subject to revision and supplementation upon mutual consent and will go into effect from the date the South and the North exchange the document after each side has signed the document and has completed necessary internal procedures.

December 6, 2007

Kwon O-kyu   Jon Sung Hun
South Chairman North Chairman
Joint Committee for Joint Committee for
South-North Economic Cooperation North-South Economic Cooperation
Deputy Prime Minister and Finance Minister Vice Premier
Republic of Korea Democratic People s Republic of Korea