Agreement canceled

North Korea ends cooperation with South Korea

The North Korean government has voted to terminate all economic cooperation agreements with South Korea. At the same time, the Supreme People's Assembly has now voted to abolish all laws regulating existing economic relations with its neighbor.

South Korean President Yoon Suk-yeol described the official end to economic cooperation as an "extraordinary change". He said it was difficult to understand what was behind it. Although Yoon takes a hard line towards the North Korean government, he stated that he was still prepared to approach the North. Even a summit meeting with Kim is possible if it would help the economy.

No peace treaty to date
Isolated North Korea and democratic South Korea are still officially at war. Although a ceasefire agreement was reached after the end of the war in 1953, there is still no peace treaty. The two countries are separated by a 248-kilometre demilitarized zone.