The Inter-Korean trade saw a significant reduction in May as a result of the South Korean government's punitive measures against the Democratic People's Republic of Korea (DPRK) for the deadly sinking of its warship Cheonan, according to the Ministry of Unification on Thursday.

The volume of inter-Korean trade amounted to 156.53 million U.S. dollars in May, down 17.6 percent from 189.98 million U.S. dollars in April.

Outbound shipments from South Korea declined 30.8 percent in May compared with the previous month, to register 59.35 million U. S. dollars. Meanwhile, inbound shipments from the DPRK shrank 6.8 percent to 97.17 million U.S. dollars over the same period.

The number of South Korean visitors to the DPRK also saw a 3.7 percent drop to 10,188 in May compared with the previous month.

The South Korean government has severed all trade and cultural ties with the DPRK after a multinational investigation concluded that the South Korean warship sank due to a torpedo attack from the DPRK.