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Production at Kaesong complex rises in October
By Tony Chang
SEOUL, Dec. 22 (Yonhap) -- Monthly production at an inter-Korean industrial complex in the North rose more than 10 percent in October from the previous month, thanks largely to strong performances by machinery and electronics manufacturers, the Seoul government said Tuesday.
Production at the Kaesong complex reached US$27 million in October, up 12.1 percent from $24 million a month earlier, the Unification Ministry said. The October figure also represents a 16.9 percent increase from a year ago.
The park, located in the North's border town of Kaesong, opened in late 2004 as a major project born out of the historic first inter-Korean summit in 2000. South Korean businesses there produce mostly labor-intensive goods such as electronics, clothing and kitchenware.
The overall increase was attributed notably to strong output from machinery and electronics manufacturers, which climbed 26.2 percent and 25.5 percent, respectively. Foodstuff and textile goods also enjoyed 24.9 percent and 8.6 percent increases, respectively.
Exports from the complex, however, shrank 9.1 percent from a month ago to $3.11 million, mostly due to a decline in machinery shipments, according to the ministry.
There are currently 116 South Korean firms operating in Kaesong, matching their capital and technology with the cheap but skilled labor of 42,000 North Korean employees.
odissy@yna.co.kr
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