February 15, 2019
South Korea to spend $16 billion in border areas with North Korea for next decade
South Korea's government said on Feb 7 that it will spend 13.2 trillion won (S$15.9 billion) in border areas with North Korea for the next decade. The money, including 5.4 trillion won from the central government, 2.2 trillion won from local governments and 5.6 trillion won from the private sector each, will be spent on 225 projects in inter-Korea border areas by 2030.
The projects were aimed to establish foundation for inter-Korea exchange and cooperation, lay the groundwork for a balanced regional development, stimulate ecological peace tourism in border areas and expand social infrastructure, according to the Ministry of the Interior and Safety. READ MORE