S Korea makes little use of inter-Korean fund this year: media

16:09, October 21, 2010      

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Only a paltry portion of the government fund designed to facilitate economic cooperation between South Korea and the Democratic People's Republic of Korea (DPRK) has been used so far this year, local media said Thursday citing data provided by a local bank.

About 41.7 billion won (36.9 million U.S. dollars), or 3.17 percent, of the amount of money from the inter-Korean economic cooperation fund allocated for this year has been spent as of September, the state-run Export-Import Bank of Korea (Korea Eximbank) reportedly told parliament. The total sum of money earmarked for this year stands at 1.18 trillion won.

The smaller-than-expected amount reflects frayed ties between the two Koreas over the sinking of a South Korean warship in March that Seoul blames on Pyongyang, the bank reportedly said during a parliamentary hearing.

Seoul suspended nearly all exchanges with Pyongyang after the alleged torpedo attack on its warship, which killed 46 sailors, while keeping its humanitarian assistance in place.

Source: Xinhua


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