Off the wire
• Across China: Resettlement project helps reduce flood damage  • 1st LD: Malaysia says two more debris confirmed from missing MH370  • Urgent: Malaysia says two more debris confirmed "almost certainly" from missing MH370  • Interview: How Abe's new security laws violate constitution  • China Hushen 300 index futures open lower Thursday  • China treasury bond futures open higher Thursday  • Chinese FM pledges constructive role in addressing Mideast issues  • Aussie PM discusses trade, terror with U.S. President Obama  • Japan's FY 2015 current account surplus doubles, posts surplus for 21st straight month in March  • Myanmar names former representative to U.N. as minister of state counselor  
You are here: 　 Home

Kaesong industrial park output reaches 3.23 bln USD in 11 years of operation: report

Xinhua, May 12, 2016 Adjust font size:

The total production volume from the Kaesong Industrial Complex in the Democratic People's Republic of Korea (DPRK) reached 3.23 billion U.S. dollars in the 11 years' operation before its closure earlier this year, a report by South Korea's unification ministry said Thursday.

The joint factory park in the DPRK's border city of Kaesong began operation in 2005 as part of a deal reached between the leaders of the two countries in June 2000. On Feb. 10, Seoul closed down the joint venture, three days after Pyongyang launched a satellite on a rocket, which was condemned by outsiders as a disguised test of ballistic missile technology.

In 2015, the annual output reached its peak at 563.3 million dollars, which marked the first time yearly production numbers exceeded the 500 million dollars threshold, said the ministry's report.

In the first year of operations in 2005, the corresponding number was at 14.9 million dollars before it grew steadily to 323.3 million dollars in 2010 and 469.5 million in 2012, according to the report.

A four-month suspension of operations, amid escalating inter-Korean tensions, caused annual production to slumped to 223.8 million dollars in 2013 before numbers rebounded to 470 million dollars in 2014, said the report.

As of the end of 2015, the once-jointly-run factory park has employed a total of 54,988 workers from the DPRK.

Spurred by last year's biggest-ever production at the factory, trade volume between the two sides reached 2.71 billion dollars, the highest figure recorded to date, showed the report.

South Korea's humanitarian assistance to the DPRK soared to a six-year high of 25.4 billion won (21.8 million dollars) in 2015, said the report.

"The government is keeping the Kaesong factory park venture closed and taking stringent sanctions in collaboration with the international community," the ministry stressed, condemning the DPRK's nuclear test in January that was followed by numerous military threats. Endit