Inter-Korean Trade Surges Despite Chill in Ties - The Korea Times

Inter-Korean Trade Surges Despite Chill in Ties

South Korea's trade with North Korea in the first five months of this year surged 30 percent despite a chill in their relations, the Unification Ministry said Tuesday.

The rise was attributed to brisk industrial exchanges that offset a sharp drop in South Korea's humanitarian aid for the impoverished North.

Inter-Korean trade reached $734.25 million in the Jan.-May period, up from $562.92 million during the same period last year. The increase was notable in the commercial sector, which posted $685 million worth of trade over the months, up 52 percent year-on-year.

However, exchanges in non-commercial areas contracted due to strained inter-Korean ties. Non-commercial trade dropped 56 percent to $49.2 million.

Inter-Korean relations have been frozen since President Lee Myung-bak took office in late February.

Interesting contents

Taboola 후원링크

Recommended Contents For You

Taboola 후원링크