As 2019 dawns over the Korean Peninsula, the promises of denuclearization seen in 2018 may – or may not – come to fruition. In view of the complexities surrounding the current stalemate in negotiations between Washington and Pyongyang, any engagement beyond discussions at this time appears ill-advised. Seoul, however, has other ideas. The dailyReport Must-reads from across Asia - directly to your inbox South Korean President Moon Jae-in has proposed several projects through which he hopes Seoul can engage North Korea. Chief among them are rebuilding Pyongyang’s decrepit rail and road systems. Moon’s motivations would appear to be threefold. To begin, his parents were from North Korea, and Moon clearly has empathy for his Northern brethren. Additionally, he wants a political legacy, one that no other South Korean leader has ever attempted to the degree that Moon has: creating irreversible and sustainable progress toward eventual … [Read more...] about South Korean projects in North Korea: The case against
Invest in north korea
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?
source via foxnews.com US Secretary of State Mike Pompeo said Sunday the US would be interested in American private sector investment in the country if they comply with President Donald Trump’s demands for denuclearization. Pompeo told Fox News Sunday Americans would invest in North Korean infrastructure and agriculture, so North Koreans could “eat meat and have healthy lives”. White House national security advisor John Bolton and US Senator Lindsey Graham also commented on potential economic rewards North Korea stands to gain after denuclearization. US 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. “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 … [Read more...] about Pompeo says American companies could invest in North Korea if Kim Jong Un meets US demands
A South Korean official says North Korea may be open to US investment to help modernize its economy. The official likened “modernization” to building a Trump Tower or a McDonald’s restaurant. “They want to be a normal country, a normal state to be recognized by the United States,” he said during a CNN International interview. The suggestion could also hint at the North’s desire to be relieved of economic sanctions leveled against the country in response to its past aggressions. During a dinner that followed the historic summit between North Korean leader Kim Jong Un and South Korean President Moon Jae-in, North Korean officials indicated the regime wants to modernize its economy, in order to become “a normal country,” according to a South Korean official who attended the event. “They want to be a normal country, a normal state to be recognized … [Read more...] about South Korean official likens a modern North Korea to one with ‘a Trump Tower and McDonald’s’ in it
SEOUL (BLOOMBERG) - They have 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 on Sunday (April 1) with 10 other South Korean music groups at the first of two concerts this week in Pyongyang. It is the latest overture in Seoul's decades-long cultural diplomacy push, aimed at softening ties with its closed off and nuclear-armed neighbour. Taking place four weeks before a 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 Flavour" and "Bad Boy" to about 1,500 members of the North Korean elite at the East Pyongyang Grand Theatre on Sunday night, Red Velvet will be hoping for a less frosty reception than those that have gone before them. "The whole … [Read more...] about K-pop girl band to face tough audience in North Korea amid cultural diplomacy push