A portal site for trade to North Korea, <http://Interkoreatrade.kita.net> launched

<http://interkoreatrade.kita.net>, a portal site for trade with North Korea has opened. Thanks to this website, various services including information collection, investment and trade for systematic support for inter-Korean economic cooperation will be available on one place.

The website was officially launched on February 3rd after KITA (Korea International Trade Association) (chaired by Lee Hee-Beom) restructured the existing ‘Center for Inter-Korean Private Economic Cooperation’ and beefed up new content and demonstration led by Special Committee for Inter-Korea Trade was held. The website, refurbished under the sponsorship of Ministry of Knowledge Economy, will provide a wide-range of one-stop service for companies to manage risk in facilitation of investment to North Korea and business operation in North Korea. In addition, a pool of experts will offer two-way consultation service online.

Companies that do business in North Korea and want to do will be able to find practical information they need. In particular, companies can measure the possibility of success in inter-Korean economic cooperation in four categories; general trade, consignment processing trade, investment cooperation and advancement into the GaeSung Industrial Complex through service available on the site.

An official from KITA said “Recently, South Korean companies trading with North Korea have difficulties due to sour inter-Korean relationship. But, I hope this website will serve as a guide to help companies doing business in North Korea or hoping to invest in the North.”