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Foreign businesses welcome N. Korea's nuke pledge

Foreign businesses welcome North Korea's nuclear pledge

Foreign business officials here took Monday's agreement as a breakthrough on the North Korean nuclear problem but held out some reservations about its immediate impact on the Korean economy, citing, among others, a difficult road ahead regarding its implementation.

“We were very encouraged by the news that North Korea pledged to give up its nuclear weapons development and rejoin international arms treaties,” an official from the American Chamber of Commerce in Korea (AMCHAM Korea) said.

The AMCHAM official predicted the move would contribute to boosting investor confidence.

“Needless to say, a nuclear North Korea has been an additional uncertainty for investors considering Korea as a destination,” the official added. “This new breakthrough not only makes our jobs much easier as businesses on the ground in managing home offices, but can also be a confidence booster for foreign and domestic investors looking at the Korean economy.”

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