(LEAD) Korean firms call for full support after factory shutdown
(ATTN: ADDS more details in paras 4-5)
SEOUL, Feb. 12 (Yonhap) -- South Korean companies at a jointly run factory park in a North Korean border city urged Seoul on Friday to roll out full support measures as their losses from the park's shutdown are unimaginable.
On Thursday, North Korea expelled South Korean workers from the Kaesong Industrial Complex and froze the assets of companies operating there, a day after the South suspended operations in retaliation for Pyongyang's rocket launch.
The shutdown of the industrial park, regarded as the top achievement of inter-Korean reconciliation and cooperation efforts, is feared to deal a hard blow to the South Korean firms involved.
"We strongly urge the government to compensate us for the damage that will be inflicted on us as a follow-up measure," the association of 124 South Korean businesses operating in the factory park said in a statement. "We are making it clear that the government should shoulder all the damage for us."
The association also demanded that the Kaesong Industrial Complex, the symbol of inter-Korean economic cooperation and peaceful existence, should be restored.
Some estimate that 124 South Korean firms operating there may shoulder massive losses following the factory shutdown.
When the industrial park was closed in 2013 for 160 days, South Korean firms reported a combined loss of 1.05 trillion won.
The companies, however, claim the actual damage will be greater considering the loss of business partners and credibility.
Earlier in the day, the chief of the association and other representatives met with lawmakers to call for measures to help compensate for the potential damage.
On Thursday, the association said it may seek a lawsuit if the government fails to offer proper compensation for damages from the decision.
The association plans to kick off a special team that will assess the damage as well as take charge of compensation demands to the South Korean government.
sam@yna.co.kr
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