S. Korea scraps barter transaction deal with N. Korean firm
- 4 years ago
통일부 "개성고려인삼무역회사와 물물교환 사업 철회"
South Korea withdrew plans for barter transactions with a North Korean trading company after it was discovered that the firm is subject to international sanctions.
Seoul has been reviewing giving approval to the barter project worth more than one-hundred-26-thousand U.S. dollars between a local farmers' group and 'Gaeseong Koryo Insam Trading' to bring in ginseng, blueberry liquors and other food products in exchange for South Korean sugar.
However, the North Korean company was found to be on the sanctions list for its suspected handling of foreign currency earnings under Bureau 39 of the ruling Workers' Party.
Seoul's Unification Ministry said this does not, however, mean plans to resume inter-Korean cooperation through "small-trade" have been scrapped.
South Korea withdrew plans for barter transactions with a North Korean trading company after it was discovered that the firm is subject to international sanctions.
Seoul has been reviewing giving approval to the barter project worth more than one-hundred-26-thousand U.S. dollars between a local farmers' group and 'Gaeseong Koryo Insam Trading' to bring in ginseng, blueberry liquors and other food products in exchange for South Korean sugar.
However, the North Korean company was found to be on the sanctions list for its suspected handling of foreign currency earnings under Bureau 39 of the ruling Workers' Party.
Seoul's Unification Ministry said this does not, however, mean plans to resume inter-Korean cooperation through "small-trade" have been scrapped.