S Korea plans to increase budget spending by 30% on inter-Korean economic cooperation for 2010
www.chinaview.cn 2009-10-06 10:58:11   Print

    SEOUL, Oct. 6 (Xinhua) -- The South Korean government on Tuesday said it is planning to raise its budget spending on inter-Korean economic cooperation for 2010 by 30 percent from this year's.

    According to the Ministry of Strategy and Finance, it has planned for a budget spending amounting to 398.2 billion won (about 339.6 million U.S. dollars) for next year to support economic cooperation projects with the Democratic People's Republic of Korea (DPRK), up 30 percent from 304.6 billion won set aside for 2009.

    The planned budget came as local experts expect that the cross-border trade will likely to be active while the inter-Korean relations could improve in 2010.

    According to the ministry, 81.7 billion won of the planned budget will be used to improve the infrastructure in the joint Kaesong industrial park such as the construction of accommodation facilities and roads.

    The Kaesong complex, which hosts 114 South Korean companies, is operated with more than 40,000 DPRK workers.

    Aside from the budget increase, the ministry is also planning to offer 616 billion won of humanitarian aid to the DPRK next year, including food and fertilizer.

    The ministry expects inter-Korean trade to reach 1.7 billion dollars next year, up 13 percent from this year's estimated 1.5 billion dollars.

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Editor: Li Xianzhi
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