Press Release (January 19)
2010 Inter-Korean Trade Via Kaesong Industrial Complex Soared Whereas Other Trade Plummeted
□ Inter-Korean Trade via Kaesong Industrial Complex in 2010 stood at 1billion 442million 860 thousand dollars, up 53.4% year-on-year.
○ The trade via the industrial complex has steadily risen since 2004. The total volume was nearly 1billion dollars in 2009 whereas the number surpassed far more than 1billion dollars in 2010.
○ Thanks to a big jump in trade via the complex, the 2010 total trade figure between the two Koreas recorded 1billion 912million 250tousand dollars, up 13.9% year-on-year.
□ After May 24th, when the South banned all shipments to the North in response to the deadly Cheonan torpedo attack, general trade and processing on commission took a nosedive.
○ General trade declined by 54% from 2009 to 117million 860thousand dollars while processing on commission was down by 22.5% to 317million 560thousand dollars.
□ Consequently, the composition of inter-Korean trade changed a lot.
○ The proportion of trade in Kaesong Industrial Complex mounted to 75.5% from 56% in 2009.
○ General trade accounted for 6.2%, down from 15.3% and processing on commission made up 16.6%, down from 24.4% in 2009.
Ministry of Unification
