Under the terms, North Korea would swap 240 products for 167 tonnes of sugar from the South.- Reuters
SEOUL (Reuters): A South Korean farmers' cooperative said on Thursday (Aug 6) it has clinched a US$150 million 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.
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