SEOUL, KOREA - The total amount of damages incurred by 103 companies out of 123 with operations in Kaesong, North Korea, is estimated to be in excess of 2.8 trillion won.
The Association of the Kaesong Firms, the trade group representing companies investing in the Kaesong Industrial Complex, said on April 29 that the total damage would be in the neighborhood of 3.5 trillion won if the losses of the remaining 20 firms are accounted for.
If payments to damage compensations brought about by future lawsuits are included, however, the final tally would be much more than the current estimation.
This is also quite removed from the estimated damage of "about 1 trillion won" remarked by Prime Minister Jung Hong-won when he was asked by congressmen on April 27. It is expected there will be controversies raged on surrounding the exact damage amount between the government and Kaesong companies.
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