Date: Wednesday, November 27, 2013
Time: 10:30- 10:40 A.M.
1. Minister’s Schedule
Minister Ryoo Kihl-jae has no official schedule other than to prepare for the upcoming National Assembly's Foreign Affairs and Unification Committee and the Special Committee on Budget and Accounts.
2. Regarding the media coverage on inter-Korean economic cooperation insurance of the GIC tenant companies
37 companies returned the inter-Korean economic cooperation insurance worth 103 billion won as of today(11.27).
There was media coverage that companies are charged of 3% monthly interest rate for late insurance payments. However, this is incorrect.
Companies are charged of annual interest rate for late insurance payment, not monthly interest rate.
The inter-Korean economic cooperation insurance system applied the common foreign investment insurance scheme. Favorable terms with insurance rate and late payments are given to the inter-Korean economic cooperation insurance system considering both risk factors and the necessity to vitalize North Korea investment.
3. Entry and exit status
463 South Korean citizens will enter and 447 will exit the GIC today. A total of 827 people stayed in the GIC yesterday.
