North Korean Economy Watch

Excerpt from the Choson Ilbo:

Asan said Thursday it paid US$675,250 to North Korea to cover costs accrued by 10,380 South Korean tourists who visited the mountain resort on July 1-11, until the tours halted after a South Korean tourist was shot and killed by a North Korean soldier at Mt. Kumgang.

Asan sends the payment at the end of each month, at the rate of $30 per person for a one day tour, $48 for two days or $80 for three days. Later this month, Asan will pay a further $928,560 to the North to cover the cost of trips to another tourist destination, Kaesong City. The cumulative payments Asan made to the North for the first six months of the year amounts to $10.7 million for the Mt. Kumgang tour, and $5.1 million for the Kaesong tour.

Read the full story here:
Asan Pays N.Korea for July Tours
Choson Ilbo
08/08/08

This entry was posted on Tuesday, August 12th, 2008 at 9:25 pm and is filed under Finance, Fiscal & monetary policy, Mt. Kumgang Tourist Special Zone, Special Economic Zones (Established before 2013), Tourism, Trade Statistics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.