On February 8, North Korea's Supreme People's Assembly, as reported by the official KCNA news agency, voted to nullify all agreements previously signed with South Korea aimed at fostering economic cooperation. This move comes amid a sharp deterioration in relations between the two Koreas.

The assembly, responsible for formalizing policies directed by the ruling Workers' Party, has also decided to abolish laws regulating economic relations with Seoul. This includes the annulment of the special law governing the operation of the Mount Kumgang tourism project.

The tours to the scenic mountain just north of the eastern border were a symbol of economic cooperation that began during a period of engagement between the two Koreas in the early 2000s, drawing nearly 2 million South Korean visitors.

The project was suspended in 2008 after a South Korean tourist who strayed into a restricted zone was shot and killed by North Korean guards.

North Korea has officially declared South Korea as an enemy at war, and in the previous year, it terminated a military pact signed in 2018. The pact was designed to de-escalate tensions near the military border, which was established under a truce concluding the 1950-53 Korean War.

In a pre-recorded interview with state TV KBS aired late on Feb 7 South Korean President Yoon Suk-yeol called the shift in North Korea’s inter-Korea policy “an extraordinary change” but said it was hard to understand the thinking behind the move.

“What hasn’t changed is that the North has tried for more than 70 years to turn us into Communists, and while doing that, it realised its conventional weapons were insufficient so they went onto nuclear development to threaten us,” he said.

Mr. Yoon, who has adopted a tough stance against Pyongyang, expressed his openness to engage with North Korea. He mentioned the possibility of a summit meeting with Kim and providing aid to support the North Korean economy. However, he also noted that the North Korean leadership is perceived as "not a rational group."

Since assuming power in 2011, Kim has actively pursued the development of nuclear weapons and ballistic missiles with different ranges. This approach has heightened tensions not only with South Korea but also with the United States, all the while the North Korean economy faced significant challenges and struggles.

Image source: Reuters