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EXPORTS FROM INTER-KOREAN COMPLEX PLUNGE AMID DOWNTURN.

AsiaPulse News

| June 08, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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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