An inter-Korean economic cooperation office has opened in the North Korean border city of Gaesong.

Around two-hundred-80 officials from the two Koreas attended the office's opening ceremony at the Gaesong Industrial Complex on Friday.

The new office will house 24 permanent staff members, including 14 from the South and ten from the North, who will hold weekly meetings to discuss inter-Korean economic cooperation.

Seoul's Vice Unification Minister, Lee Bong-jo, said that the office is significant in that it will actively support direct negotiations between the two Koreas as well as promote cross-border investment.

He also stressed that the new office represents a step forward in the history of inter-Korean economic cooperation.

Later on Friday, officials from the two sides will convene for the eleventh joint economic cooperation committee meeting in the newly opened office.