Seoul - The German electronics and parts manufacturer Prettl announced Wednesday that it will be the first foreign company to build a factory in Stalinist North Korea. The work began Wednesday on the new factory, to be built in an industrial complex run jointly by South Korea in Kaesong near the North-South Korean border, a Prettl Korea spokesman reported from the town of Uiwang near the South Korean capital Seoul. The facility with an area of 11,000 square metres is meant for the production of electronic parts, wiring looms and other parts for the automobile industry. It is expected to be completed in October. Prettl chief Rolf Prettl was quoted in a statement as saying that it was an important day and something special to be a German company with a factory in North Korea. Kaesong was chosen by the company for its low labour costs, with the average North Korean worker earning 60 dollars a month. With more than 5,000 employees, Prettl is an international business group with 25 production facilities in 12 countries around the world. Around 69 companies from South Korea are already based in Kaesong.
