Thursday, July 9, 2015

THE SOUTH KOREA AND NORTH KOREA BUSINESS COMPLEX VENTURE IN NORTH KOREA CALLED KAESONG INDUSTRIAL COMPLEX SOARS TO A NEW HIGH OUTPUT INTRODUCING CAPITALISM TO THE COMMUNIST CONTROLLED COUNTRY–AS SOUTH KOREAN BUSINESSES MOVE IN TO EMPLOY CHEAPER NORTH KOREAN WORKERS

Factory output at the joint-Korean Kaesong Industrial Complex has soared this year despite cross-border conflict over the minimum wage for North Korean workers.
Output reached US$186 million for the first four months of this year, up about 25 percent on-year from $148 million, the Unification Ministry said Thursday.
Monthly output rose some 19 percent to 43 percent on-year, with $46.5 million in January, $38.74 million in February, $51.07 million in March, and $49.95 million in April.
Even as tension was mounting in March and April over a nominal hike of wages, most of which are pocketed by the North Korean regime, output rose about 20 percent.
There are now some 55,000 South and North Korean staff in the industrial park, up about 2,000 from a year ago.
Annual output rose from $14.91 million in 2005 to $470 million in 2014.
The accumulated output stood at $2.85 billion as of the end of April this year. The number of South Korean businesses operating there increased from 18 in 2005 to 124.

http://english.chosun.com/site/data/html_dir/2015/07/10/2015071000808.html

No comments:

Post a Comment