2 in 3 Gaeseong companies returned insurance money

Most of the companies that received insurance money amid concerns that all operations will be halted at the inter-Korean factory park in Gaeseong have repaid the government, a Unification Ministry official said Wednesday.

In a news conference, Park Soo-jin said of the 59 companies that received money, 37 of them, or 63 percent, paid back the Export-Import Bank of Korea.

Korea Eximbank paid the companies a combined 176.1 billion won ($166 million), of which 103 billion won has been returned.

She said for those that still have not repaid the money they had received, an annual interest rate of 3 percent of the principle is being levied in accordance with the letter of the contract.

The ministry said that although companies and politicians have called for leeway on repayment of insurance money, there is a need to abide by the original contract governing the policy. (Yonhap News)