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Cabinet approves bill for amendment of the Inter-Korean Exchange and Cooperation Act

writer
장수민
created
2021-01-19
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6483

Cabinet approves bill for amendment of

the Inter-Korean Exchange and Cooperation Act

 

□ The Cabinet approved a bill for amendment of the Inter-Korean Exchange and Cooperation Act at a meeting on January 19, 2021.

o The government began work on the amendment last year as part of the overall effort to “improve legislation for exchange and cooperation,” a major policy objective, and drafted the bill after gathering public opinions through various channels including an online public hearing held on May 27, 2020.

o The government addressed in the bill those matters that require legislative improvements on the occasion of the 30th anniversary of the enactment of the Inter-Korean Exchange and Cooperation Act. It particularly focused on maximizing reliability and autonomy in exchange and cooperation at the private level.

 

□ Major amended provisions are as follows.

① Establish the legal basis for procedures and government support when exchange and cooperation projects are suspended.

o Projects expected to be suspended as a result of shortening of the term of validity of trading and cooperation projects shall undergo deliberation by the Cabinet, and the bill makes it possible to take necessary measures including funding for management normalization.

② Set forth the reasons for refusal of approval of visits to North Korea.

o The bill sets forth the reasons for refusal of approval of visits to North Korea, and it requires that the reasons be discussed with the heads of appropriate institutions.

③ Set forth matters regarding the establishment of offices in North Korea by corporations and organizations.

o The establishment of offices in North Korea had been regulated by the Notification of the Ministry of Unification but is now subject to the higher law.

④ Introduce a certification system for trading business operators subject to special treatment and excellent trading business operators in an inter-Korean cooperation district.

o The bill sets forth the legal basis for special cases regarding the process of requesting approval to make visits and to take out or bring in goods (including movement of goods) at an inter-Korean cooperation district, and it requires the establishment of a certification system for excellent trading business operators who have not violated applicable regulations.

 

□ The bill for amendment will be submitted to the National Assembly in January after being approved by the President, and if the amendments take effect after undergoing deliberation and resolution at the National Assembly, they are expected to do much to facilitate reliable and sustainable inter-Korean exchange and cooperation.

 

□ The government will continue to strive to promote inter-Korean exchange and cooperation.