ha ha that's very logical
03.10.2005 08:32
North Korea closing inter-Korean trade promotion
offices in China
moneypans.net
reports:
Sources in Beijing told Yonhap News Agency ... that
North Korea issued a directive to close its trade office in Beijing
"soon" and another in Dandong within six months. The offices,
operated by the North's Korean National Economic Cooperation
Federation, help South Korean companies do business with the North.
...
Over 100 South Korean companies engaged in ventures in North Korea
are reliant on the trade and investment offices in Beijing and
Dandong.
Andong Hemp Textile Co., which was last year the first South Korean
company to incorporate a firm in the North, said the report was
particularly embarrassing because all of its products from
Pyongyang require certification from the North Korean office in
Beijing.
"If those products don't have a certificate of origin issued by the
Beijing office, they cannot pass customs here," said company
official Kim Hyuck in Seoul.
South Korean customs have since last year required all North Korean
products imported here to be certified by the North Korean
federation. The policy was introduced to prevent Chinese-made goods
wearing a North Korean labels being sold in South for higher price.
...
"If they do close, companies may have to go back to the old ways
and do business through a third party," said Lee Jong-geun,
research fellow at the Korea International Trade
Association.
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