Monday, March 15, 2010
North Korea Watch: Wine and Dine Me
North Korea has revised an investment law to lure South Korean and other investors back to a free-trade zone on its northeast border with China and Russia, a news report said on Sunday.
Yonhap news agency, quoting unnamed Seoul officials, said the January 27 revision of the law paved the way for "Korean compatriots living outside the DPRK (North Korea)" to invest in the Rason free-trade zone.
In 1999 the North revised a law governing Rason to ban South Korean investors from the zone, Yonhap said.
The latest revision seeks to lure them and other foreigners back in, by reducing taxes and simplifying regulations, it said.
Their state-controlled media will probably continue to say crazy things, but there's not much incentive to annihilate those who are giving Kim Jong-il the funds it takes to keep his wine cellar stocked.
Labels: north korea
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