North Korea is to establish three more Special Economic Zones (SEZs); one at Haeju, a second at Nampo and the third at Shinuiju, according to a report carried by Tokyo Shimbun today.<\/p>\n
Citing an anonymous source close to Sino-North Korean relations and an official with a South Korean research institute, the report claims that Jang Sung Taek indicated North Korea\u2019s intention to establish the three SEZs while in Beijing in mid-August, and requested Chinese cooperation to make them a success. <\/p>\n
The report claims that China indicated a willingness to help push the projects forward, but informed Jang that North Korea will have to set out an appropriate legal and economic framework for the zones if it is serious about attracting significant investment.<\/p>\n
Notably, in 2007 during the 2nd Inter-Korean Summit between the late President Roh Moo Hyun and Kim Jong Il, North and South Korea agreed to pursue the idea of a Special Economic Zone at Haeju, a city that had originally been put forward as a possible location for such a development prior to the decision to designate the location of the current Kaesong Industrial Complex in the early years of the Sunshine Policy. <\/p>\n
Kim Jong Il is said to have initially rejected the idea, however, citing the fact that the city plays host to a number of sensitive military installations. However, he later reportedly acquiesced.<\/p>\n
Meanwhile, Shinuiju is already home to fledgling SEZ development at Hwanggeumpyong and Wihwa Island, while Nampo is home to a number of significant Sino-North Korean and North-South Korean joint venture companies, including the manufacturing plant owned by Pyeonghwa Motors Corp.<\/p>\n","protected":false},"excerpt":{"rendered":"
North Korea is to establish three more Special Economic Zones (SEZs); one at Haeju, a second at Nampo and the third at Shinuiju, according to a report carried by Tokyo Shimbun today. Citing an anonymous source close to Sino-North Korean relations and an official with a South Korean research institute, the report claims that Jang […]<\/p>\n","protected":false},"author":167,"featured_media":21333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-21331","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news"],"yoast_head":"\n