REUTERS
August 7, 2020 at 18:41 JST
SEOUL--A South Korean farmers’ cooperative said on Thursday it has clinched a 150 million won ($127,000 or 13 million yen) deal to barter sugar for North Korean liquor and food products, bypassing sanctions banning cash transfers.
The deal, brokered by a Chinese company, was signed in June with five North Korean trading firms, an official for the cooperative said, though it still needs approval from Seoul’s Unification Ministry, which oversees inter-Korean affairs.
Under the terms, North Korea would swap 240 products--including its signature ginseng and blueberry liquors, crackers, candies, teas and health supplements--for 167 tons of sugar from the South, said Oh Hyun-kyung, the cooperative official.
“The North wanted sugar as they were having difficulty importing raw materials due to sanctions and the coronavirus pandemic,” Oh told Reuters, saying shipments could begin later this month.
Oh said Korea Kaesong Koryo Insam Trading Corp., a North Korean firm specializing in ginseng and health products, was one of the parties in the deal.
Unification Minister Lee In-young had suggested before taking office late last month that bartering South Korean food and medicines for North Korean liquor and mineral water could be a first step toward normalizing exchanges.
South Korea is pushing to restart inter-Korean cooperation without breaching international sanctions banning financial transactions with North Korea, imposed over its nuclear and missile programs.
South Korea on Thursday approved plans to donate $10 million to fund U.N. World Food Program (WFP) efforts to aid North Korean children and women.
Heavy rain across the Korean Peninsula has brought flooding to both North and South Korea in recent days, sparking concerns about crop damage in the impoverished North and its potential impact on food supplies.
“The decision would be a starting point for our plans to consistently pursue humanitarian cooperation without linking it to political and military issues,” Lee said.
Seoul has bankrolled various WFP and U.N. Children’s Fund projects in the North in recent years.
A South Korean drama that may yet alter hearts, minds of North
July 31, 2020
Fresh Korean Wave sweeping world, powered by Netflix hits
July 5, 2020
VOX POPULI: Drama depicts poignant divide between South and North Korea
June 15, 2020
N. Korea’s Kim inspects flood relief; worry grows about crops
August 7, 2020
S. Korea launches search for rescue workers missing in floods after boats capsize
August 6, 2020
Here is a collection of first-hand accounts by “hibakusha” atomic bomb survivors.
A peek through the music industry’s curtain at the producers who harnessed social media to help their idols go global.
Cooking experts, chefs and others involved in the field of food introduce their special recipes intertwined with their paths in life.
A series based on diplomatic documents declassified by Japan’s Foreign Ministry
A series about Japanese-Americans and their memories of World War II
