통일연구원퀵메뉴 KINU 한반도동향 온라인시리즈 전자도서관 새창이동 연구과제제안

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(NK Brief No. 15-02-26) Total Development Plans Completed for Economic Development Zones: Tenant Companies to Be Put Und

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According to the Choson Sinbo, a pro-North Korean newspaper in Japan, North Korea is promoting “diversification in foreign economy,” and has recently signed “bilateral agreements on promotion and protection of foreign investment” with 28 countries and “double taxation avoidance agreements” with 13 countries.

The newspaper cited an interview with Kim Chon Il, the director of (North) Korea Economic Development Association: “multilateral foreign economic development signifies developing foreign economic relations with many countries around the world in various economic sectors and units, unlike in the past where foreign economic activities were concentrated around only a few countries.”

In addition, he said, “the form of exchange and cooperation is also orienting toward diversification" and "We are promoting businesses in various sectors in trade, investment, joint venture, and science and technology cooperation based on new products and achievements made with the state-of-the-art science and technology.”

The Choson Sinbo article emphasized that, "Currently foreign economic business projects are not delegated to only a specific unit,” and that “Choson [North Korea] is promoting various business establishments and management of domestic institutions, corporations, and organizations as well as encouraging various overseas companies and individuals in joint venture projects and establishing independent foreign companies in special economic zones.”

The news also elaborated on the amendment of recent foreign investment laws and explained that new regulations and bylaws are being developed to incorporate various investment strategies including internationally recognized BOT (build-operate-transfer) method.

Moreover, the article confirmed that “the core of the DPRK’s foreign economic development lies with the economic development zones,” and the development plans for economic development zones and investment attraction projects are well underway since last year...