SEOUL, Oct. 30-- One South Korean company, which runs factories in the inter-Korean industrial zone, applied Wednesday for the closure of business due to reduced sales, Seoul's Unification Ministry said Thursday.

Aramode, a small South Korean company which makes cases for watch and mobile phone, submitted a business dissolution report to the management committee of the inter-Korean industrial zone in Kaesong, the border town of the Democratic People's Republic of Korea (DPRK), a Unification Ministry official told reporters on condition of anonymity.

It was the second withdrawal of business from the Kaesong industrial zone since June 2009 when a small textile company closed business.

Aramode, which has no plants anywhere else except for Kaesong, will actually shut down business after the end of the closure proceedings in Kaesong.

The case-making company has been under business troubles since 2012 when its annual revenue fell to around 300,000 U.S. dollars from a peak of 700,000 dollars.

It was hit hardest after the DPRK suspended operation of the Kaesong industrial complex in April 2013. The DPRK reopened it five months later.

The Aramode shutdown will reduce the number of South Korean companies running factories in Kaesong to 124, which are employing some 53,000 workers from the DPRK.

The Kaesong industrial zone is the last remaining symbol of inter-Korean economic cooperation as other business projects were banned by the so-called May 24 sanctions imposed by South Korea in 2010.