Donald Trump dangled the carrot of foreign investment in front of North Korean leader Kim Jong Un at their nuclear summit, but analysts say few will want to put money into one of the highest-risk business environments in the world. The U.S. president showed Kim a movie of bright lights, high-speed trains and soaring tower blocks - pitching a future that could be possible if Pyongyang gives up its weapons. Optimists say that with mineral wealth, cheap labour, and a helpful geographical location, the North has huge potential. But the history of overseas firms who have tried to set up operations in the isolated, impoverished country is a long and sorry one. Rules that can change on a whim, bills that are never paid, and the threat of expropriation hang over foreigners who step into the wildest of wild east investment destinations. For now, dozens of restrictions apply under the various sanctions regimes imposed on the North over its nuclear ambitions. Joint ventures are banned by the U.N. … [Read more...] about Invest in North Korea: money pit or golden opportunity?
Invest in north korea
WASHINGTON — The United States is prepared to offer North Korea security assurances and bountiful private investment if it makes the strategic choice to give up its nuclear weapons, US Secretary of State Mike Pompeo pledged Sunday. The US price for normalisation -- complete, verifiable and irreversible denuclearization -- is one Pyongyang has never before been willing to pay, seeing nuclear weapons as the ultimate guarantee of the regime’s survival. But both countries have been on charm offensives ahead of the summit June 12 in Singapore between Donald Trump and Kim Jong Un, the first ever between a sitting US president and a North Korean leader. On Saturday, North Korea said it will destroy its nuclear test site later this month -- a gesture Trump quickly hailed as "very smart and gracious." Pompeo, who has met twice with Kim, described him as well-informed and attuned to western media coverage, a leader "who knows his brief" and what he wants to achieve. The … [Read more...] about US ready to offer North Korea security assurances, investment: Pompeo
North Korea has made considerable progress this year on weapons technology, including testing a submarine-launched missile for the first time, but it's still not clear if the isolated nation has developed a nuclear warhead. It also does not yet have a fleet of submarines that can launch the newly developed missile. Nevertheless, concerns about the threat posed by North Korea have spiraled since it conducted its fourth nuclear explosion in January and followed it up with a series of missile tests despite severe United Nations sanctions. Also, three major factories known to produce machine parts for North Korea's sanctioned nuclear and missile programs have been modernized or expanded, according to analysis of recent satellite imagery seen by Reuters, a further sign of its commitment of scarce resources to weapons. (For graphic, click here) "North Korea has dramatically increased the pace of missile testing and invested heavily in modernizing its factories that produce them, something we … [Read more...] about North Korea makes progress on missiles, but no evidence of nuclear weapons yet
Matthew Todd Miller sits in a witness box during his trial at the North Korean Supreme Court in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang September 14, 2014. Matthew Miller, the American held in North Korea since April for "hostile acts", began a six-year hard labor sentence on Thursday that he said involved farm work and isolation, media reports said. Miller, 25, said in an interview with the Associated Press he had written to U.S. First Lady Michelle Obama, Secretary of State John Kerry and his predecessor Hillary Clinton asking for help. "Prison life is eight hours of work per day," Miller, dressed in grey prison clothes and a hat, said in the video interview. "Mostly it's been agriculture, like in the dirt, digging around. Other than that, it's isolation, no contact with anyone." CNN also reported that a North Korean government official released a photo of Miller, taken on Wednesday, his head shaved and in grey prison clothes … [Read more...] about American begins sentence of farm work and isolation in North Korea: reports
(VOVworld)- The South Korean Ministry of Unification said Thursday that his office will help South Korean firms evaluate a project to build a railway linking North Korea's Najin port with the town of Khasan in Russia's Far Eastern region. Economic sanctions imposed on North Korea on May 24, 2010, do not preclude this project in which South Korean enterprises would invest in North Korea indirectly through a third country. According to officials, South Korea will consider the effect of the project on bilateral relations and on Pyongyang's policies before licensing the investment by South Korean firms. The project is a positive signal for the resumption of inter-Korean relations. … [Read more...] about South Korea considers allowing enterprises to invest in North Korea