Inter-Korean trade tumbles amid growing tensions

By Koh Byung-joon
SEOUL, June 9 (Yonhap) -- Trade between South and North Korea plunged nearly 25
percent in the first four months of this year amid growing tensions on the Korean
Peninsula, a report showed Tuesday.
Inter-Korean trade amounted to US$426.35 million during the January-April period,
down 24.8 percent from $566.92 million a year earlier, according to the report by
the Korea Customs Service.
The decline comes as tensions mounted after North Korea fired a rocket on April
5, prompting the U.N. Security Council to unanimously condemn the move. The North
responded by kicking out outside nuclear inspectors and quitting six-party
denuclearization talks.
The missile test further aggravated already soured relations between the two
Koreas since the Seoul government of President Lee Myung-bak took office in early
2008, pledging to get tough on the North's regime.
Trade between the two Koreas, which amounted to $328.65 million in 1999, surged
more than five-fold to $1.79 billion in 2007 when leaders from the two sides met
for the second time. Last year, trade inched up to $1.82 billion.
Experts say that trade is expected to fall further in months to come as tensions
are still running high after the North conducted its second nuclear test last
month in defiance of repeated warnings by the international community and
recently sentenced two U.S. journalists to 12 years in a labor camp for illegally
entering the country.
kokobj@yna.co.kr
(END)