New data show just how big a hit has been taken by the South Korean companies that used to have business at the inter-Korean industrial complex at Gaeseong.
The complex was shut down in 2016 due to tensions with the North.
Public filings show that of 12 listed companies that had business there, the stock prices 11 of them are down since then.
Six are down by more than half, and a couple of them by more than 70 percent.
Many of the firms are in the red now, while those that are still profitable are much less so.
These firms had to leave Gaeseong in a hurry, and it's estimated that they left behind some 740 million dollars in assets.