South and North Korea are holding a working-level meeting in Gaesong to discuss joint development of light industry and mineral resources.

At the city's inter-Korean economic cooperation office, the two sides will discuss specifics of how the South will provide 80-million dollars worth of raw materials for the North's light industry in return for the opportunity to develop North Korean mineral resources.

The two-day meeting, which ends Friday, is the first of its kind since Seoul launched a new body to coordinate inter-Korean economic activities, the Support Committee for South-North Exchange and Cooperation.

Seoul and Pyongyang agreed to conduct a joint survey on the North’s Geomdeok mine in exchange for the South’s provision of raw materials for manufacturing shoes, clothes and soap starting from June 27th.