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South Korean Chicken Farm In North Korean Territory

by 5m Editor
7 November 2007, at 11:19am

KOREA - A South Korean food company said Tuesday it will start building a chicken farm in North Korea later this year as part of its efforts to produce chickens using the North's cheap labor.

Maniker Co., the nation's second-largest chicken processing company, said it agreed with North Korean officials last month to establish the farm in the North's western border city of Kaesong, where an inter-Korean industrial complex is located.

"Construction will start later this year and the farm will be operational early next year," said Choi Young-sam, a spokesman for Maniker, by telephone.

North Korea will provide the site and workers for the construction, Choi said, adding the project is partly supported by the South Korean government.

The agreement was reached at a meeting in Pyongyang when two executives of Maniker visited the North in late October, the spokesman said.

Details such as how much money Maniker and the South Korean government will spend for the chicken farm have yet to be fixed, Choi said.

Source: TradingMarkets.com

5m Editor