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Gaeseong Factory Park’s Production Surges

Written: 2015-07-09 13:55:58Updated: 2015-07-09 14:02:37

Gaeseong Factory Park’s Production Surges

The Gaeseong Industrial Complex has posted a growth in production, despite an inter-Korean dispute over wage hikes for North Korean workers.
   
The Unification Ministry said Thursday that the factory park’s production between January and April stood at 186 million U.S. dollars, up 25 percent from the same period last year.
   
The annual production of the inter-Korean joint venture had grown from 14-point-nine million U.S. dollars in 2005 to 470 million U.S. dollars in 2014.
   
The wage dispute started in February, following North Korea’s unilateral demand for a minimum wage raise for North Korean workers. It was settled tentatively in May with the two Koreas reaching an agreement. 

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