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Preferential Tariffs Sought for Gaesong Exports

Written: 2005-11-10 17:21:32Updated: 0000-00-00 00:00:00

The government will seek preferential tariffs from foreign countries for exports from Gaesong Industrial Park in North Korea.

Vice Unification Minister Lee Bong-jo on Thursday said such products could be difficult to export due to their possible classification as North Korean products.

Lee said South Korean firms operating in the complex will be asked to produce import substitutes, process intermediate goods and export to China and Russia over the short term.

He said the government will pursue the preferential tariffs for Gaesong products at free trade negotiations with Japan and the Association of Southeast Asian Nations.

He said improvement of the North's ties with the United States is the fundamental catalyst for the overseas export of Gaesong products.

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