Menu Content
Go Top

Inter-Korea

Firms to Get Inter-Korean Trade Incentive

Written: 2005-06-20 19:48:12Updated: 0000-00-00 00:00:00

Companies from next month can exceed the current limit on corporate investment if their business with North Korea accounts for more than 50 percent of sales.

The Fair Trade Commission on Monday said a Cabinet meeting revised enforcement ordinances of the Fair Trade Act to that effect.

Thus, the limit will not affect companies like Hyundai Asan, whose inter-Korean projects account for more than half of sales, nor others that began operations two years ago and do business mainly with the North.

The commission said the revision is expected to jumpstart economic exchanges between the two Koreas.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >