North-South Korea trade increases

Trade between South Korea and North Korea is increasing with more fisheries products and sand.

According to a report by KITA on July 26, the trade recorded 558.08 million dollars for the first half of this year, up 22.8% as compared with the same period of last year.

Among these, exports (from South to North) increased 15.1% to 358.82 million dollars, while imports increased 39.9% to 199.26 million dollars.

The increased trade is due to increases in general trade, processing trades on consignment and a boost in business at the Gaesung industrial complex.

By item, there were increases in mineral resource imports and construction materials exports to the Gaesung industrial complex. Trade bound for Gaesung increased 39.8% to 109.53 million dollars. KITA expects the North Korean missile incident will have fallout on the trade in the second half of this year.