At the talks "Agreement on Normalizing Operation in the KIZ" was adopted.

The agreement reads in full:

Agreement on Normalizing Operation in the KIZ

The north and the south had seven rounds of the working-level talks between their authorities to solve the issue of the KIZ from July 6, 2013 to August 14 and agreed upon the following points for the purpose of developmental normalization of operation in the zone:

1. The north and the south will make sure that the suspension of operation in the KIZ will not reoccur due to limit to passage, workers' withdrawal, etc. but ensure normal operation of the zone such as stable passage of personnel of the south side, the north side's workers' normal attendance and protection of properties of enterprises, unaffected by any situation under any circumstances.

The north and the south will discuss compensation for damage done to the enterprises by the recent suspension of operation and the related issue at the "North-South Joint Committee for the KIZ" to be composed in the future.

2. The north and the south will ensure the personal safety of personnel of the south side visiting the KIZ, protect the assets invested by businessmen and solve the issues of passage, communications and customs.

- They will ensure the safe entry and stay of personnel of the south side in the KIZ.

- They will protect the assets invested by businessmen in the KIZ and build an institutional mechanism for settling dispute such as joint investigation in case of violation of law, compensation for losses, etc.

- They decided to take measures for ensuring normal passage, providing internet and mobile communications, simplifying the procedure of customs clearance and reducing its time as an immediate task for settling the issues of passage, communications and customs clearance and discuss the related working matters at the "North-South Joint Committee for the KIZ".

3. The north and south will provide world-level conditions for business to the enterprises in the KIZ and develop it into an industrial zone with international competitiveness.

- They will actively encourage foreign businesses' induction in the zone.

- They will develop various business systems including labor, taxation, wage and insurance applied in the zone to the world-level.

- They will explore ways to develop the KIZ into the one with international competitiveness such as recognition of preferential tariff in case of export of its products to a third country, etc.

- They will push ahead with a joint briefing on foreign investment.

4. The north and the south will organize and operate the "North-South Joint Committee for the KIZ" to implement the above-said provisions and have necessary sub-committees under it. To this end, they will conclude an "agreement on organizing and operating north-south joint committee for the KIZ" and start the activities of the relevant institutions.

5. The north and the south will set up an institutional mechanism for ensuring safe entry and stay in the zone and for protecting invested assets and make positive efforts to ensure that the enterprises in the zone maintain and re-operate the equipment.

August 14, 2013.

The adoption of the "Agreement on Normalizing Operation in the KIZ" at the talks will bring joy to all compatriots aspiring after reconciliation, cooperation, reunification and improved inter-Korean relations on the occasion of the 68th anniversary of the liberation of the country.