North Korea Update 2013: Kim Jung Un Wants To Reopen Kaesong Industrial Zone With South Korea After China Halts Aid, Is North Korea Desperate And Going Broke?

North Korea's Kim Jung Un proposed talks with South Korea to reopen the jointly-run Kaesong industrial zone in a statement on Thursday morning, prompting claims that North Korea is desperate for economic assistance as China continues to halt aid to the Juche regime.

The proposal for talks regarding the complex indicates that "maybe the cost of closure of Kaesong is greater than they had anticipated," said Daniel Pinkston, a senior analyst for the International Crisis Group covering Northeast Asia, according to CNN.

Pinkston also told CNN that North Korea's key ally China, which has expressed displeasure with some of Pyongyang's recent behavior, may not have been "as generous as the North Koreans have been expecting in terms of aid, assistance, trade and investment."

The Kaesong industrial zone, located in North Korea just a few minutes away from the South Korean border, was closed in early April after tensions flared between both states following North Korea's nuclear test last February.

But North Korea's nuclear experiment may have dampened relations with another neighbor - the People's Republic of China.

Despite warnings made by the Chinese government that they would continue to cut aid to North Korea if they moved forward with their nuclear test last February, the North Korean government ignored the People's Republic of China and continued their plans.

As a result, North Korea might be turning to its southern neighbor for economic assistance, using the Kaesong industrial zone as a joint venture.

"We hope that South and North Korea can build trust through this opportunity," the South Korean Unification Ministry told BBC News, adding that the agenda and schedule would be announced after discussions.