ROK Drop

Avatar of GI KoreaBy on November 16th, 2012 at 6:23 pm

North Korea Seeks Investment For Special Economic Zones

» by in: North Korea

It will be interesting to see if any companies are going to rush and invest in these North Korean economic zones?  If the past is any indication these will not be good investments, but they always seem to find someone willing to waste their money:

A South Korean civic group says North Korea will designate six additional special economic zones and announce economic reform plans in mid-January of next year.

Quoting sources in North Korea, the South-North Forum said on Friday that the six special zones will include Sinuiju-Daegye Island, Wonsan, Nampo, Haeju and two special tourist zones of Mount Baekdu and Mount Chilbo.

Currently, the North has four special economic zones — Mount Geumgang, Gaeseong, Hwanggeumpyeong Island-Wihwa Island and Rason City. The addition would bring the number of the special economic zones to ten.

The civic group said that the North’s development plan on Sinuiju-Daegye Island includes construction of an international airport, a tourist and leisure district and two industrial complexes in Sinuiju. The North reportedly plans to seek investment from a South Korean company for one of the industrial complexes, and a Hong Kong company is known to be investing in the other complex.  [KBS Global]

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