The Institute of Far Eastern Studies, a Seoul based think tank focused on international on law, economy and living conditions for the people of Korea (especially North Koreans and defectors), reports that most foreign businesses doing business with the DPRK are losing money. A survey of 500 businesses that either work in both Koreas or have foreign dealing with North Korea report that nearly 94% of responders reported a loss of profits. The cause for these losses are the tightened sanctions on North Korea following the sinking of the Cheonan in March. Almost 52% of responders lost money due to business with the North having to completely halt, while 26% are fulfilling less orders, and ~22% cite high transportation and overhead costs. The average loss for the companies is 974 million won, or about 850 000 USD.
Source: IFES
