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  #1  
Old 07-01-2006, 09:09 AM
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[GI Korea] North Korea Aid to Be Paid Back?

Published: Fri, 30 Jun 2006 06:03:54 +0900


Yeah right, whatever:



Bahk Byong-won, the chief negotiator for inter-Korean economic cooperation, said on Tuesday that economic aid to the North was not free and that Seoul had clearly sent that message in previous meetings between the two Koreas.
Speaking at a forum sponsored by the JoongAng Ilbo and the Hyundai Research Institute, Mr. Bahk, vice minister of finance, said, "Until now, aid to the North was done considering the inability of the North's economy to pay back."
After economic talks on Jeju Island, both Koreas agreed Seoul would provide $80 million worth of materials to manufacture much-needed garments, shoes and soaps to the North in exchange for 2.4 billion won ($2.4 million) worth of zinc and magnesite as an immediate 3 percent return for the donated materials. The rest is will be paid back over 10 years, after a 5-year grace period, at a low annual interest rate of 1 percent.




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Old 07-02-2006, 09:28 AM
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Cool Payback from North Korea!

Of course there will be payback for aid given to North Korea. Has the Dear Leader ever told a lie?
The South may get some zinc and magnetite, and maybe not. There may be some manufactured goods from the DMZ factories, and maybe not.
If there was a part of the agreement that hinged on the testing of a North-South Railway, as alluded to in the actual newspaper article, then maybe the only payback you will see has already happened, as NK has refused to allow the train to roll.
Why? Because South Korea is still preferring to deal with the Evil USA over their blood brother to the North!
Nothing positive has come out of the North in 60 years, and there is no real reason to believe this encounter will be any different.
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