SEZ Law Enacted by Supreme Assembly

Pictured Above (Google Earth): The Hwanggumphyong and Wiwha Island SEZ on the Yalu/Amnok River which separates the DPRK and PRC.

UPDATE 1 (2012-3-19): Read the laws governing the SEZs here.

ORIGINAL POST (2011-12-9): According to the Daily NK:

North Korea has enacted a law governing activities at Hwanggeumpyeong and on Wihwa Island, two new special economic zones in the vicinity of Shinuiju on the Sino-North Korean border.

Chosun Central News Agency revealed the news this morning, stating, “The Hwanggeumpyeong-Wihwa Island Economic Zone Act was adopted by the Standing Committee of the Supreme People’s Assembly of the Chosun People’s Democratic Republic.” It did not offer any further details.

The provisions of the new law are reported to have been circulated to various Chinese governmental and economic figures, and it is said to contain provisions reflecting successful elements in the development of China’s own special economic zones.

Naturally, one key part of the intent behind the new law’s enactment appears to be to reassure potential Chinese investors of the stability of the investment climate in North Korea.

At this stage, although there was a large opening ceremony for the zone in June this year attended by Workers’ Party figures including Jang Sung Taek, who plays a key role in the attraction of overseas investment to North Korea, the pace of construction remains limited.

However, there may not be long to wait. Dai Yulin, who heads the Municipal Committtee of the Chinese Communist Party across the Yalu River in Dandong told the China Daily back in September, “Concrete plans for the development of the Hwanggeumpyeong Special Economic Zone will be completed by the end of this year.”

Read the full story here:
SEZ Law Enacted by Supreme Assembly
Daily NK
Kim Tae Hong


Comments are closed.