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SEOUL, June 8 Asia Pulse - Exports of South Korean companies operating at an inter-Korean industrial park fell by more than half in the first four months of this year amid a global economic downturn and increased tension between the two Koreas, a government report showed Monday.
The joint venture, about an hour's drive from Seoul, is the last remaining inter-Korean joint project from the summit in 2000 between then South Korean President Kim Dae-jung and North Korean leader Kim Jong-il. Some 100 South Korean firms currently operate at the park, producing clothes, kitchenware, electronic equipment and other labor-intensive goods with some 40,000 North Korean employees.
Combined overseas shipments out of Kaesong industrial park were US$7.15 million in the January-April period, down 56 per cent from the $16.27 million during the same period a year ago, according to a report from the Unification Ministry.
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