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개성공단

KOR

Value of GIC

1 The Corporate Association of Gaeseong Industrial Complex (CAGIC)

An organization, officially enrolled under the Ministry of Unification representing businesses at the GIC

Established in 2004 as a consultative body to represent the rights and interests of businesses at the GIC, and officially enrolled in May 2006
(Before the suspension of GIC) CAGIC was active for negotiation of minimum wage for workers at the GIC, and conveyed opinions from the businesses on the improvement of laws and systems led by the North & South Korea government
(After the suspension of GIC) CAGIC continuously proposed the re-opening of the complex to the ROK government
CAGIC took various activities to relieve the damage to the companies at the GIC, caused by the suspension of the GIC
184 members, 125 manufacturing companies and 59 supporting companies such as grocery stores, etc. including German needle company
The Korea Federation of SMEs (KBIZ)
An economic organization, representing the rights and interest of Korean SMEs, improving the economic status of 6.6 million Korean SMEs, established in 1962 based on the Small and Medium Business Cooperatives Act
Kbiz consists of 975 cooperatives and associations.
Kbiz took a roll in the construction of the GIC, together with Korea Land Corporation and Hyundai Asan, in the area of official recruitment of investors, and dispatched a staff to GIC as well.