ASIA: KOREA. 411 



The import duty on paper coming into Korea is 7 per cent ad 

 valorem. 



The import of paper into Korea for the year 1897 amounted to 

 less than 20,000 yen ($10,000 gold). 



BANKING, POSTAL, AND CABLE FACILITIES. 



Banking facilities in Korea are adequate. In addition to a branch 

 of the Hongkong and Shanghai Banking Corporation of New York, 

 Europe, and the East, there are several Japanese branch banks doing 

 business here. 



Korea is a member of the International Postal Union, but has 

 not yet established a foreign mail service. The Japanese postal de- 

 partment serves Korea at present, having branch post-offices in each 

 port. 



At least three months are required for a reply to a letter to or 

 from New York. Korea has cable connection with Japan, and is 

 connected with China by land lines. Rates from Seoul to Washing- 

 ton are 3.48 yen ($1.74) per word. 



OPENING FOR AMERICAN TRADE. 



I do not see any good opening for the introduction of American 

 paper into Korea at present. I have discussed the matter with the 

 managers of the Independent and the Trilingual Press, at Seoul, 

 who inform me that American paper is better suited to this market 

 than is that made in England. One of the managers, a practical 

 printer in the employ of the American Methodist mission, tells me 

 that Seoul offers a fair opening for a practical printer and book- 

 binder, with $3,000 capital, to start a job office. He says that he 

 could make a good living and a fair interest on his investment. 

 Such an enterprise would be likely to make an opening for American 

 paper manufactures in Korea. 



I do not think there is an opening in Korea for wood pulp or 

 other fibers. 



FREIGHT RATES. 



Shipments from New York to Korea are usually via Kobe, Japan, 

 or Shanghai, China, per direct steamer through the Suez Canal. 

 Freight rates to Kobe via Suez are about $13 per ton measurement; 

 $11.50 per ton weight. From Chicago to Kobe via the Pacific, the 

 rate is $12 per 40 cubic feet, but not under i^i cents per pound for 

 general merchandise. To the above must be added $4 per ton 

 from Kobe to Chemulpo, Korea. The time from New York to Che- 

 mulpo is nine to ten weeks via Suez. It is shorter, of course, by the 

 Pacific, but delays are very frequent. 



HORACE N. ALLEN, 



SEOUL, January 31, 1899. Consul -General. 



