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Avatar of GI KoreaBy on January 14th, 2013 at 7:39 pm

Germany To Help Open North Korean Economy?

» by in: North Korea

Via the Korea Economic Reader that is what the German Der Spiegel is report is saying:

Pyongyang may be preparing to open up its economy. A report in a prominent newspaper claims the regime has enlisted the aid of German economic and legal experts to lay the groundwork for foreign investment in North Korean companies. The move could be made as soon as this year.

On New Year’s Day, North Korean leader Kim Jong Un called for a “radical” economic renewal for his country and an end to decades of conflict with South Korea. Now, a German media report says he is moving quickly to fulfill at least the first pledge.

According to an article to be published on Saturday by the daily Frankfurter Allgemeine Zeitung, the communist regime in Pyongyang is preparing to open up the country’s economy to foreign investors. Moreover, it has enlisted the assistance of German economists and lawyers to lay the groundwork for the move. [Spiegel]

You can read the rest at the link, but supposedly the North Koreans do not want to follow the Chinese economic model and instead only want to allow investing in individual companies. This is probably to keep the foreigners out and the money coming in. Of course there all ways seems to be foreigners itching to lose their money in North Korea and this must be what the Kim regime is counting on.

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