Inter-Korean trade exceeds $400 million

Trade between South and North Korea surpassed the $400 million mark for the first time, the Ministry of Unification reported Wednesday.

The ministry said the amount of trade between South and North Korea came to $425.15 million as of the end of December last year. Of the total, imports to the South amounted to $152.37 million and exports to the North stood at $272.77 million. The trading volume in 2000 represents a 27.5% rise from the $333.43 million recorded in the same span of 1999.

A ministry official said that the portion of imports of textile products to the South fell last year from 1999, but that imports of electric-electronics goods nearly doubled, part of a growing diversification trend. At the same time, business-type trade (commercial trade, processing trade on commission of raw and subsidiary materials) soared by 32.7% last year from 1999, making the type of trade more desirable, he said.

Ha Tae-Won scooop@donga.com