The Institute for Far Eastern Studies
[IFES] at Kyungnam University will host an international panel of business
moguls, academic experts, NGO organizers, and government officials to discuss
the challenges and opportunities for conducting enterprise in North Korea. In
the past decade or so, North Korea’s gradual marketization has opened the doors
to some foreign interests, but doubts still linger about the stability of doing
commerce in the “hermit kingdom.”
Presenters and discussants include Simon
Cockerall, a travel agent specializing in packaging North Korea tours for
foreigners, Yang Ho Hong, former Chairman of the Kaesong Industrial District
Management Committee, and Mark Kim, Executive Director of the Sunyang Shoe
Company.
The goal of the conference is to learn from past success stories in
order to explore options for future opportunities. To map out these
opportunities, the experts will paint a vivid picture of the North’s
contemporary economic climate, including how government policies and international
pressures affect investment, the role of North Korea’s new Special Economic
Zones for attracting foreign business, and the implications of business ties on
unification and peace on the Korean Peninsula.
The seminar, scheduled to run from
1:00p.m.-6:00p.m. on Wednesday, January 28th, will consist of two
sections separated by a coffee break at 3:45p.m. The first section will outline
North Korea’s business environment with broad strokes, while the second section
will include specific examples from a few different industries, including
tourism and light manufacturing. Proceedings will be kicked off by a
congratulatory address from the Minister of Unification, Rhoo Kihl Jae.
Following an introduction by the moderators, six different presenters will then
convey their stories and expertise. The presenters will also field questions
from the discussants, who will delve deeper into the subject matter by
inquiring about particular details and offering counter points.
Because of the
quality of the panel, industry insiders are expecting to get unparalleled
insights about the North’s economic realities. In the past, North Korea’s rigid
economic policies meant that only a select inner circle of allies were given
access to its market. But on the heels of the famine in the 1990s, a slow
process of marketization, punctuated with both government liberalization and
crackdown, has carved out a space for foreign companies to become engaged
inside North Korea. The first pioneers have certainly had their fair share of
hardships, and on Wednesday they will be ready to reveal all to anyone willing
to listen.
The event, which will feature simultaneous English/Korean translation, is to be held at Jungsan Hall, located near Anguk Station in Seoul. More information on how to get to the venue as well as the speakers can be found on the IFES website.
