South Korean business leaders have launched a body in Seoul to promote inter-Korean economic cooperation.

The new body will enhance information sharing among interested firms, help resolve bottlenecks in advancing into North Korea and make proposals to the government.

The head of the Korea Chamber of Commerce and Industry, Sohn Kyung-shik, and three other chiefs of domestic business organizations will jointly oversee the body.

In addition, 71 business leaders, high-ranking government officials and senior researchers will participate in its activities including the finance, unification and commerce ministers.