It is estimated that the amount of loans to North Korea that South Korea lends to North Korea is highly unlikely to be returned, reaching 1.3326 trillion won안전놀이터. Although the government has urged repayment 84 times, it is pointed out that the people’s blood tax is leaking because North Korea is practically consistent with ‘ignorance’.
According to data submitted by the Export-Import Bank of Korea on the 11th to the Office of Congressman Yoo Gyeong-joon, as of the end of June, the combined amount of principal and overdue interest on North Korean loans is $1,019.95 million (approximately 1,332.6 billion won). With the inter-Korean summit in 2000 as an opportunity, they provided a loan worth 932.9 million dollars (about 1.22 trillion won) to North Korea until 2008, but it has been overdue several times and the interest alone has increased by 112.6 billion won.
From 2000 to 2007, the government provided food loans ($720.04 million) to North Korea, including 2.4 million tons of rice and 240,000 tons of corn. The first repayment began in June 2012, but so far, not a single penny has been recovered. As of the end of June, outstanding principal and interest amounts to $291.33 million and $80.98 million, respectively. Even if North Korea repays the remaining principal at once, it has increased to 801.02 million dollars (approximately 1.466 trillion won).
In addition, in 2007, it provided raw materials for light industry necessary for the production of clothes, shoes and soap in North Korea, but only 3% (2.4 million dollars) of the 80 million dollars was recovered. It had to be repaid from 2014, but as principal and interest were overdue, the outstanding amount increased to $86.03 million (approximately 112.4 billion won).
In 2002, $132.9 million (approximately KRW 173.7 billion) of materials and equipment needed to build railroads, roads, and stations on the northern section of the Gyeongui Line and Donghae Line were supported. However, the repayment schedule has not been set as the amount of the loan has not been finalized due to the suspension of construction.
The Ministry of Unification has sent a letter urging the North Korean trade bank to repay the loan through the Export-Import Bank of Korea every quarter since June 2012, when the loan arrears first occurred. 84 times, including 46 food loans and 38 light industry loans. The Ministry of Unification said, “We are continuously urging North Korea to repay the loan, and we plan to consult with the government on how to handle the loan in the future.”
Rep. Gyeong-jun Yoo pointed out, “There is an aspect in which the Ministry of Unification has responded complacently, thinking that it is money that will not be received anyway.” did.