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 US 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 UN … [Read more...] about Invest in North Korea: money pit or golden opportunity?
Invest in north korea
Oren Dorell USA TODAY Published 3:13 p.m. UTC May 24, 2018 WASHINGTON — Japan’s Foreign Minister Taro Kono pressed the Trump administration Wednesday to remember Japanese interests in talks with North Korea. Kono met with Secretary of State Mike Pompeo and John Bolton, President Trump's national security adviser, according to Toshihide Ando, deputy press secretary for Japan's Ministry of Foreign Affairs. Kono reminded Bolton and Pompeo that North Korea doesn't always live up to its agreements, Ando said. Japan wants the United States to pressure North Korea on three key issues: Abolishing the North's nuclear weapons program; disbandment of the nation's short-, medium- and long-range missile production; and the return of Japanese citizens who have been captive in the hermit nation since the 1970s. "We have to remember past mistakes," Ando said, referring to previous agreements that North Korea has broken with other countries. "Today (Kono, … [Read more...] about Japan’s foreign minister seeks U.S. help on abductees in North Korea
Secretary of State Mike Pompeo said on Sunday that if North Korea agrees to fully dismantle its nuclear weapons program, the Trump administration will allow the American private sector to invest in the country. Pompeo also hinted that the US might assure Kim Jong-un he can stay in power after any deal. If a deal is reached at or after the summit meeting between Kim and Trump scheduled for Singapore on 12 June, Pompeo said on Fox News Sunday, “private sector Americans, not the US taxpayer” could “help build out the energy grid that needs enormous amounts of electricity in North Korea”. Americans could also help, he said, with investment in infrastructure and agriculture to help feed the North Korean people. Appearing on CBS’s Face the Nation, Pompeo floated the possibility of “sanctions relief”, a remark that jarred a little with a comment by Donald Trump’s national security adviser. John Bolton told CNN’s State of the Union: … [Read more...] about Pompeo: US firms could invest in North Korea and Kim may get ‘security assurances’
Picture: AFP Gallery Washington. U.S. Secretary of State Mike Pompeo said Sunday that if North Korea agrees to fully dismantle its nuclear weapons program, then the United States will allow the American private sector to invest in the country, Reuters reported. “This will be...private sector Americans...coming in to help build out the energy grid that needs enormous amounts of electricity in North Korea,” Pompeo said in an interview on “Fox News Sunday.” He added that Americans will also help invest in North Korean infrastructure and agriculture to help feed its people if the country meets U.S. demands. © 2018 All rights reserved. Citing Focus Information Agency is mandatory! … [Read more...] about Pompeo: U.S. firms may invest in North Korea if it meets demands
They’ve won over buttoned-up investors at a banking conference with their jingles about teenage love, but the K-Pop girl band Red Velvet is about to face what may be its toughest audience yet: North Korea.The chart-topping starlets will perform Sunday with 10 other South Korean music groups at the first of two concerts this week in Pyongyang. It’s the latest overture in Seoul’s decades-long cultural diplomacy push, aimed at softening ties with its closed off and nuclear-armed neighbor.Taking place four weeks before an historic meeting between the two countries’ leaders, the music tour could provide a test of whether North Korea’s attitude to the rest of the world is truly thawing. As they belt out their dance tunes “Red Flavor” and “Bad Boy” to about 1,500 members of the North Korean elite at the East Pyongyang Grand Theater tonight, Red Velvet will be hoping for a less frosty reception than those that have gone before … [Read more...] about K-Pop Stars Turn Diplomatic Envoys With Concerts in North Korea