hankyoreh

left

South Korean President Lee Myung-bak said Friday that his administration plans to found another inter-Korean industrial complex, but only if North Korea takes “future-oriented” measures.

“Currently, the Kaesong Industrial Complex is perhaps the last channel for cooperation between North Korea and South Korea,” President Lee said during an interview with Russian state broadcaster Russia 24-TV at his office in the Cheong Wa Dae (the presidential office in South Korea or Blue House). “Thus, the South Korean government wants to maintain and develop it, but it is entirely up to North Korea.”

Lee went on to say, “I think North Korea should apologize for the Cheonan incident and inter-Korean relations should be normalized,” said Lee during the interview, according to a transcript released by Cheong Wa Dae.

Lee also said in reply to a question about Kim Jong-un, the third son of current North Korean leader Kim Jong-il, “He does not become my counterpart (automatically) even if he is appointed as the next leader.”

The benchmark Korea Composite Stock Price Index (KOSPI) succeeded in landing above the 1,800-level for the first time in two years.

The KOSPI rose 1.02 percent to close at 1,802.58 on Friday, the first time it reached that level since June 9, 2008 when the index stood at 1,808.96.

Market analysts said the milestone indicated that South Korean investors believe that the global economy has recovered from the financial crisis. However, some say it is only a temporary rally thanks to briefly eased concerns about the double dip.

The European Union’s (EU) Foreign Affairs Council on Friday decided to reopen discussions over the approval of the signature of a free trade agreement with South Korea on Monday. The 27-member bloc hopes to sign the pact in early October, the minister presiding the council meeting said.

Italy has reiterated that it will veto the free trade pact, saying the treaty would harm its automakers, including Fiat. The council was due to approve the deal on Friday.