The association of South Korean firms which previously operated at the Gaeseong Industrial Complex in North Korea has expressed hopes for reopening the inter-Korean business park, following the North Korea-U.S. summit.

The association's chairman Sin Han-yong said on Tuesday that the summits between the two Koreas and between Pyongyang and Washington have been held at such a fast pace and predicted economic cooperation will follow the same path.

He said the Gaeseong Industrial Complex will open before long and wished for success in cross-border economic cooperation.

A senior official at the association also said preparations should begin to produce Mao suits as South Korean firms will likely enter the North Korean market.

The official implied that tailoring a Mao suit and a regular Western suit can't be much different.