Facebook
Twitter
Meetup
Advertisements, links with an http address and inappropriate language will be deleted.
2017.08.04
| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,130 | 8,110 | 8,125 |
| Rice Price | 5,770 | 5,740 | 5,800 |
A new survey has suggested that the May 24th Measure, which was put in place in response to the sinking of the Cheonan in March, has had a serious effect on entities doing business with North Korea, in many cases harming them in a way capable of putting them out of business altogether.
The survey, conducted by the Korea Chamber of Commerce and Industry, included a total of 500 companies; 200 with trade ties to the North and 300 without.
Of that 200, 93.9% said they have suffered what they characterized as substantial losses since the May 24th Measure imposed a trade ban with the North, while 66.5% said this was enough to put them out of business.
The survey put the average losses of those firms with ties to the North at approximately $800,000.
Meanwhile, around 8 out of 10, or 83%, of the 500 said that they now have no interest in developing business ties with the North, regardless of the political and economic environment.
The survey, conducted by the Korea Chamber of Commerce and Industry, included a total of 500 companies; 200 with trade ties to the North and 300 without.
Of that 200, 93.9% said they have suffered what they characterized as substantial losses since the May 24th Measure imposed a trade ban with the North, while 66.5% said this was enough to put them out of business.
The survey put the average losses of those firms with ties to the North at approximately $800,000.
Meanwhile, around 8 out of 10, or 83%, of the 500 said that they now have no interest in developing business ties with the North, regardless of the political and economic environment.
