Local companies preparing to file suit against government

About 10 South Korean companies are preparing to file a suit against the government over economic losses caused by Seoul's sanctions on Pyongyang, a businessman said Wednesday. South Korea imposed sanctions on the North last year in retaliation to the communist country's two deadly attacks on the South that killed 50 South Koreans. The punitive measures suspended all trade and exchange programs with the North, except for South Korea's joint industrial complex in the North's border city of Kaesong. South Korea has also selectively approved humanitarian and medical aid to North Korea by private aid groups. Still, Seoul's move caused economic damage to the local companies that have business ties with the North. The companies plan to file a lawsuit demanding compensation from the government for their economic damage after evaluating the president's address scheduled for next month to mark Korea's independence from Japanese colonial rule. South Korean presidents have usually unveiled their policies on North Korea and domestic and foreign affairs on important national holidays.