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Road to Rason (38 North)

Tuesday, August 30th, 2011

38 North
Andray Abrahamian
2011-8-29

A bus bumps and bruises its way along the unpaved road, carrying would-be investors to Rason’s First Rason International Trade Exhibition which ran from August 21-25, 2011, in Sonbong. The windows are open, until a crimson humvee barrels past, its powerful suspension dancing on the road, leaving behind a plume of beige dust. The bus windows snap shut, the still air quickly gets hot and more than one of the passengers wishes we were Chinese high-rollers, being whisked to the Emperor Casino and Hotel, which sits beautifully on Korea’s East Sea, overlooking Bipa Island and flanked by lush green mountains and crystal waters.

The passengers of the humvee-part of the casino’s fleet-will long be checked in and gambling their fortunes away by the time we complete our two and a half hour journey. However, it won’t always be this way. Rason’s 50km road to the border is finally being upgraded. Indeed, the 2.5 hour journey took 3.5 hours in June. Since then, the road has been widened, the first stage of the construction plan, allowing for traffic to flow both directions more easily and smaller passenger vehicles to overtake the more cumbersome truckers who ply the road.

Its construction is an important sign in the development of the Rason Special Economic Zone. Rason, an amalgamation of the names of the area’s two biggest cities, Rajin and Sonbong, could theoretically be a vibrant hub for both logistics and manufacturing. It is located in the far Northeast of the Democratic People’s Republic of Korea, bordering Russia and China. It has abundant, cheap labor and the region’s northernmost ice-free port. It has been a legal entity since the early 1991, but has struggled to reach its potential in the face of ambivalence from Pyongyang and difficult geopolitical circumstances.

Local administrators have bold plans for this experiment in economic opening-up and to develop as the Rason Municipal People’s Committee has imagined, an efficient road link with China’s Northeastern provinces is vital. For about a decade, improvements to the road have been “under discussion” and “coming soon,” but it is now undeniably underway. Work began in May of this year…READ MORE HERE

Posted in Automobiles, China, Choson Exchange, Economic reform, Foreign direct investment, Railways, Rason Economic and Trade Zone (Rajin-Sonbong), Rason International Trade Fair, Russia, Sea shipping, Special Economic Zones (Established before 2013), Tourism, Transportation | Comments Closed

Foreign shareholding in Daedong Credit Bank sold

Sunday, August 28th, 2011

Pictured Above (Google Earth): The Taedong Credit Bank offices at the Potonggang Hotel. See in Google Maps here.

London UK/Pyongyang DPRK, 26 August 2011
The Board of Daedong Credit Bank is pleased to announce that the foreign shareholding in Daedong Credit Bank has been sold to a Chinese based corporate entity, the “Nice Group”.

The foreign-appointed directors on the Board of Daedong Credit Bank have resigned with immediate effect, and have no further interests (financial or fiduciary) in the company.

Outgoing CEO of Daedong Credit Bank, Nigel Cowie noted:

“I am now heavily involved with a second joint venture company in the DPRK, Hana Electronics JVC. Established in 2003, this company has enjoyed solid commercial success and has recently opened its new headquarters building, together with the expansion of its business lines.

The success of both ventures has been such as to necessitate a decision to focus on one or the other, and a commercial decision had to be made.

The bank is continuing to enjoy the commercial success it has seen for the past 16 years, but ironically the decision has been made easier by the general sanctions-laden environment in which financial business here is framed these days.

As to the possibility of ever re-entering the bank, any decision we make will be based purely on commercial considerations.”

Both Hana Electronics and Phoenix Commercial Ventures bank with DCB, and will continue to do so.

About Daedong Credit Bank

Daedong Credit Bank is a joint venture retail bank based in Pyongyang. It was established in 1995 as “Peregrine Daesong Development Bank”. The Bank underwent a change of name and foreign ownership in 2000.

The wealth of experience garnered over Daedong Credit Bank’s 16 years of successful operation is unrivalled.

Daedong Credit Bank was the first, by fifteen years, foreign majority held bank in the DPRK. DCB is proud to be regarded as a flagship successful joint venture in the DPRK, and a key part of the infrastructure needed to assist the foreign-invested joint ventures, which contribute to the country’s economic development.

The bank’s principal function is to offer normal “high street” banking facilities in hard currency to foreign companies, joint ventures, international relief agencies and individuals doing legitimate business in the DPRK.

Daedong Credit Bank was the first bank in the DPRK to introduce, and vigorously implement, a comprehensive set of anti-money laundering procedures. DCB’s anti-money laundering procedure manual was introduced eight years ago, and subsequently updated based on anti-money laundering guidelines provided by the Asian Development Bank. The manual has been sent to, and accepted by, DCB’s international correspondent banks.

Daedong Credit Bank also maintains strict procedures for the detection and rejection of counterfeit bank notes; it uses regularly updated note checking machines, and has personnel with over 15 years of experience of handling notes.

Daedong Credit Bank is strongly positioned in relation to the future economic development of the DPRK, and, being the oldest established foreign invested commercial bank in the DPRK, it is the intention of the bank to capitalise on these advantages.

CONTACT INFORMATION
Daedong Credit Bank office address in Pyongyang is:
Daedong Credit Bank
Suite 401, Potonggang Hotel
Ansan-dong
Pyongchon District
Pyongyang
Democratic People’s Republic of Korea
www.daedongcreditbank.com

Posted in Banking, China, Daedong Credit Bank, Finance, Foreign direct investment, Hana Electronics Company, Insurance, Phoenix Commerical Ventures | Comments Closed

DPRK bringing domestic and Chinese tourists to Kumgang

Wednesday, August 24th, 2011

Pictured above: North Korean visitors to Kumgangsan wave to the camera in this video posted to Uriminzokkiri’s YouTube page. The Video is dated 2011-8-20.

According to the Donga Ilbo:

North Korea has reportedly opened the Mount Kumgang resort to its nationals since April after having allowed only a select few to visit the scenic area before with permission.

Pyongyang apparently intends to pressure Seoul by opening the door to the mountain to the North Korean people after failing to attract foreign investment and tourists to the resort.

A Chinese source on North Korea said Tuesday, “North Korea effectively allowed all North Koreans from April to visit the entire Mount Kumgang area, including major rivers in the region.”

North Korea, however, allows only group tourists and not individual visits. North Korean authorities have ordered companies and businesses to visit the site for company picnics or events, and the mountain has 4,000 to 5,000 visitors per month.

A business unit that wants to visit files an application with the provincial government, which then reports to the international tourist authorities of Mount Kumgang. After screening candidates, authorities issue a tourist certificate that allows holders to pass checkpoints on the way to the mountain.

Two days are generally needed to travel the region, and visitors use the accommodation facility called Kumgangsan that can handle 500 people per day. The source said rooms are in short supply because of many visitors.

Each visitor should cover his or her own expenses. The estimated cost is around 1,700 North Korean won (1.43 U.S. dollars) for entry and 19 cents per night, so the combined expense amount is 2,500 to 3,000 North Korean won (2.10 to 2.53 dollars).

The source said, “The expenses almost equal a month`s salary but the popularity (of going to Mount Kumgang) has surprised everyone.”

Speculation is rising over whether the North will use South Korean real estate and equipment belonging to Hyundai Asan Corp., the South Korean operator of the tour, and others. Pyongyang announced Monday that it will dispose of South Korean assets and properties in the resort area.

“North Korea has not yet used any South Korean facilities but has apparently used them for local tourists,” the source said.

Also, according to KCNA, at least one Chinese tour group has visited the resort since July 30:

Pyongyang, July 30 (KCNA) — A Chinese tourist group led by Zhuang Jun, general manager of the Chinese Kanghui Xi’an International Tourist Agency, visited the Tower of the Juche Idea, Party Founding Memorial Tower, Pyongyang Students and Children’s Palace and Mangyongdae, President Kim Il Sung’s native place, in Pyongyang on Friday and Saturday.

The tourist group came to Pyongyang by the Pyongyang-Xi’an international air service.

Yang Rui, manager of the agency, told KCNA:

I was pleased to see an excellent performance of Korean schoolchildren. I hope they will perform in Xi’an. I have long looked forward to visiting Mt. Kumgang. In the afternoon we are leaving for the mountain. I will be happy to enjoy the beautiful scenery of the mountain.

Read about the continuing troubles at Kumgang from the shooting to the present day here.

Read the full story here:
N.Korea allowed its people to visit Mount Kumgang from April
Donga Ilbo
2011-8-24

Posted in China, Labor conditions/wages, Mt. Kumgang Tourist Special Zone, Special Economic Zones (Established before 2013), Tourism | 1 Comment »

PRC military exports to DPRK

Tuesday, August 23rd, 2011

The Choson Ilbo posts a video of dozens of military vehicles being shipped to the DPRK:

Left: Click image above to see video. Right: Dandong Customs House

According to the article:

Some 3,000 to 4,000 Chinese-made military trucks and jeeps entered North Korea last month, it was confirmed Monday. According to video clips obtained by the Chosun Ilbo, over 100 military trucks and jeeps made in China went to North Korea everyday last month after going through customs in Dandong.

There were eight video clips of varying lengths ranging from two minutes to 16 minutes. The footage shows Chinese-produced military vehicles standing in the 10,000 sq.m parking lot of the Dandong customs office waiting to be cleared along with other civilian cars, and two-story trailers loaded with military vehicles waiting on the side road to enter the customs office. A local source in Dandong said, “Normally, all Chinese-made vehicles going into North Korea were civilian, but in July, a massive number of military cars went to North Korea.”

A senior source in North Korea said that these cars were gifts to military officers by North Korea’s heir apparent Kim Jong-un in celebration of “Victory Day,” or the day the armistice in the Korean War was signed on July 27. “North Korean military vehicles produced in the 1970s and the 80s are too old to carry out drills, and many soldiers were dissatisfied. In order to buy the loyalty of the military and show what he can do, Kim Jong-un replaced the old vehicles thanks to the assistance of China,” the source added.

Jeeps were given to officers to be used to conduct operations, and the trucks were given to soldiers.

Analysis of the footage suggests the trucks were 6-ton trucks made by FAW Car Limited Company. North Korean leader Kim Jong-il visited the headquarters of this firm in Changchun, Jilin, during his visit to China in May. The military jeeps were manufactured by Beijing Automobile Works with engine capacity of 2,200 cc and 100 horsepower. BAW, which specializes in SUVs, trucks and military vehicles, is a subsidiary of Beijing Automotive Group, a partner of Hyundai Motor.

Dump trucks, large buses, sedans, oil trucks, agricultural machines and heavy machinery were also spotted in the video going into North Korea. In the windscreen, the name of the recipients is written. One is Korea Taesong Trading Company, a trading company under the Workers Party that manages Kim Jong-il’s slush funds. It was blacklisted by the U.S. as part of its economic sanctions against the North.

In one video clip, tourist buses pack one side of the parking lot. Another clip shows a queue of several dozens of LNG trucks. A South Korean government official commented, “North Korea depends on China for almost entire amount of fossil fuel it needs.”

Posted in Automobiles, China, International Aid, International trade, Kim Jong Un, Korean People's Army, Military, Political economy, Transportation | Comments Closed

DPRK-China launch minerals – for – fertilizer program

Friday, August 19th, 2011

Pictured above (Google Earth): The Musan Mine, the DPRK’s largest. See in Google Maps here.

According to the JoongAng Daily:

During his surprise May visit to China, North Korean leader Kim Jong-il secured free fertilizer and discounted food to help alleviate the impoverished country’s chronic food shortages.

A source in Beijing who monitors North Korea-China relations told the JoongAng Ilbo on Monday that Chinese officials agreed to provide 200,000 tons of fertilizer free of charge as well as 500,000 tons of corn at a discount in exchange for rights to North Korea’s abundant natural resources.

“When 200,000 tons of fertilizer is planted on North Korean soil, it can bring about a three-fold increase in the harvest,” the source said. “This can be the equivalent of giving 600,000 tons of food.”

The source added that China agreed to sell the 500,000 tons of corn for half of the international rate, which would be $30 per ton.

The corn, the source said, had already crossed the border into North Korea from northeastern China.

In exchange, Kim will allow China access to his country’s natural resources.

“The two parties agreed to participate in the extraction of buried rare earth minerals in Musan in Hamgyong Province,” the source said. “It’s quite a profit for China as it is thirsty for materials.”

North Korea is estimated to have around 20 million tons of rare earth minerals, which are vital in the production of high-tech goods.

The Beijing-based source said the agreement gives China the responsibility for the cost of building roads to transport the natural resources as well as lending equipment.

In exchange, North Korea will hand over 50 percent of the extracted rare earth minerals free of charge to China, with the rest to be sold to China at international market rates.

Meanwhile, other sources said that Kim also received a health checkup during his stay in China.

“When Kim Jong-il was visiting Yangzhou, he received a special examination from an oriental medicine doctor that the highest Chinese elite have gone to over the years,” a source familiar with North Korean issues said

The source added: “Kim Jong-il has never trusted China’s Western medicine. I heard from a Chinese official that Kim received an oriental medicine diagnosis by taking his pulse and that it did not involve drawing blood.”

Additional Information:

1. Here is a post linking to all the major DPRK food stories this year.

2. The media has reported on other DPRK food barter deals with Cambodia and Myanmar.

3. The role of the Musan Mine in DPRK-PRC relations has been quite interesting. Here are previous posts on the mine.

Read the full story here:
North got fertilizer on Kim’s trip to China
JoongAng Daily
Chang Se-jeong
2011-8-19

Posted in Automobiles, China, Construction, Foreign aid statistics, International trade, Mining/Minerals, Musan Mine, Political economy, Railways, Rare Earths, Statistics, Trade Statistics, Transportation | Comments Closed

DPRK grain imports from China in first half of 2011

Sunday, August 14th, 2011

According to Yonhap:

North Korea imported more corn and less rice from China in the first half of this year than in the same period a year ago apparently due to a lack of foreign cash, a study showed Sunday.

North Korea’s grain imports from the neighboring country in the six-month period consisted of 38.2 percent corn, 37.5 percent flour, 16.9 percent rice and 7.2 percent beans, according to an analysis of the two countries’ trade by Kwon Tae-jin, vice president of the Korea Rural Economic Institute.

Last year, the figures stood at 34.2 percent flour, 28.8 percent corn, 19.3 percent rice and 16.4 percent beans, indicating an overall increase in imports of cheaper grains such as corn and flour this year, according to the study based on data from the Korea International Trade Association. Imports of rice and beans, meanwhile, fell from the same period last year.

This year, imports of beans cost $661 per ton on average, while a ton of rice, flour and corn sold for $538, $395 and $304, respectively.

The total amount of grain imports rose 5.5 percent to 149,173 tons, up from 141,395 tons in the first half of last year, apparently reflecting food shortages in the impoverished nation, the study said. Grain imports cost US$404 per ton on average, up 8.6 percent from $372 last year, bringing the total cost to $60.3 million, or 14.4 percent more than last year.

“The amount of grain imports last year was larger than in most years, but the fact that (North Korea) imported even more this year seems to indicate a shortage of food,” Kwon said in his study. “The larger imports of corn than beans or rice appears to be the result of a lack of foreign currency.”

Meanwhile, North Korea also boosted its imports of fertilizers by 91 percent in the first half of this year, buying a total of 190,396 tons compared with 99,588 tons in the same period last year. The country bought more than 164,000 tons of ammonium sulfate, which is sold at $188 per ton, while only importing some 25,000 tons of urea for $346 per ton.

“It seems like either fertilizer production in North Korea has dropped significantly, or they are aiming to boost their food production by a large amount,” Kwon said.

The Daily NK also published a story on these findings.

Read the full story here:
Lack of foreign cash forces N. Korea to buy more corn, less rice
Yonhap
2011-8-14

Posted in Agriculture, Agriculture statistics, China, Food, International trade, Statistics, Trade Statistics | 1 Comment »

Integration in the Absence of Institutions: China-North Korea Cross-Border Exchange

Tuesday, August 9th, 2011

Peterson Institute Working Paper WP 11 – 13
Stephan Haggard, Jennifer Lee, and Marcus Noland

Read the full paper here (PDF).

Theory tells us that weak rule of law and institutions deter cross-border integration, deter investment relative to trade, and inhibit trade finance. Drawing on a survey of more than 300 Chinese enterprises that are doing or have done business in North Korea, we consider how informal institutions have addressed these problems in a setting in which rule of law and institutions are particularly weak. Given the apparent reliance on hedging strategies, the rapid growth in exchange witnessed in recent years may prove self-limiting, as the effectiveness of informal institutions erode and the risk premium rises. Institutional improvement could have significant welfare implications, affecting the volume, composition, and financial terms of cross-border exchange.

JEL: P3, P33, F15, F36
Keywords: economic integration, property rights, institutions, transition, China, North Korea

Read the full paper here (PDF).

Posted in China, Economic reform, Foreign direct investment, Joint Ventures, Private property | Comments Closed

KCC finding creative ways to earn hard currency

Thursday, August 4th, 2011

Pictured above (Google Earth): Korea Computer Center

According to the Associated Press (Via Washington Post):

South Korean police said Thursday they have arrested five people who allegedly collaborated with elite North Korean hackers to steal millions of dollars in points from online gaming sites.

The five, including a Chinese man, were arrested and another nine people were booked without physical detainment after they worked with North Koreans to hack South Korean gaming sites, the Seoul Metropolitan Police Agency said in a statement.

Members of the hacking ring, which included North Korea’s technological elite, worked in China and shared profits after they sold programs that allowed users to rack up points without actual play, police said.

The points were later exchanged for cash through sites where players trade items to be used for their avatars. The police said the ring made about $6 million over the last year and a half.

A police investigator, who declined to be identified because the investigation was under way, said North Korean hackers were asked to join the alleged scheme because they were deemed competent and could help skirt national legal boundaries.

The police pointed to North’s Korea Computer Center as the alleged culprit. Set up in 1990, the center has 1,200 experts developing computer software and hardware for North Korea, the police said.

The National Intelligence Service, South Korea’s spy agency, was heavily involved in the investigation, the police said. Investigators suspect the hackers’ so-called “auto programs” could be used as a conduit for North Korean cyberattacks.

South Korean authorities have accused North Korea of mounting cyberattacks in the past few years. Prosecutors said earlier this year that the North hacked into a major South Korean bank’s system and paralyzed it for days. The North is also accused of mounting attacks on U.S. and South Korean websites. Pyongyang has denied the charges.

The New York Times adds the following details:

In a little less than two years, the police said, the organizers made $6 million. They gave 55 percent of it to the hackers, who forwarded some of it to agents in Pyongyang, the capital of North Korea. “They regularly contacted North Korean agents for close consultations,” Chung Kil-hwan, a senior officer at the police agency’s International Crime Investigation Unit, said during a news briefing.

Mr. Chung said the hackers, all graduates of North Korea’s elite science universities, were dispatched from two places: the state-run Korea Computer Center in Pyongyang and the Korea Neungnado General Trading Company. The company, he said, reports to a shadowy Communist Party agency called Office 39, which gathers foreign hard currency for Mr. Kim through drug trafficking, counterfeiting, arms sales and other illicit activities.

Read the full story here:
South Korean police say they’ve cracked down on ring working with North Korean hackers
Associated Press (Via Washington Post)
2011-8-4

Posted in Bureau 39, China, Communications, Computing/IT, Illicit activities, Internet, Korea Computer Center (KCC) | Comments Closed

Lankov pessimistic on the DPRKs SEZs

Thursday, July 14th, 2011

Pictured above (Google Earth) is the electrified fence around the Rason special economic zone.

Lankov writes in the East Asia Forum:

SEZs are acceptable to the North Korean government because they are relatively easy to control. North Korean SEZs have been fenced off with barbed wire and all visitors have had their IDs carefully studied at checkpoints.

The North Korean government obviously hopes that small areas of controlled capitalism will generate enough income to make a difference — or at least to keep afloat the long-decaying economy.

Similar SEZs with China to those recently declared have been attempted before. At Raseon a major problem was its isolated location and underdeveloped transport infrastructure, even by meagre North Korean standards. At Sinuiju there were numerous problems. One was North Korea’s choice of the Chinese entrepreneur Yang Bin to lead the project as he wanted to transform the city into a gambling centre, a Macau of the North. This was not welcomed by the Chinese government. Also, it did not help that the North Koreans, following their modus operandi, did not bother to liaise with the Chinese beforehand.

…

The success of KIZ might seem encouraging, but it is actually a very special case. It is viable because the South Korean government is willing to go to great lengths to support it. It has subsidised industrial development and has provided adventurous developers and companies with generous subsidies and guarantees that made the entire undertaking possible. This willingness is driven by a multitude of political considerations. Frankly, it is doubtful whether the Chinese side would be equally interested in subsidising a similar undertaking by Chinese companies in Sinuiju.

…

What will happen to these two planned new SEZs? The fate of Raseon seems pretty certain. Available evidence indicates it is largely about transportation links. Chinese Manchuria is landlocked, so Chinese companies will save a small fortune on transportation costs if they are given access to a seaport on the Eastern coast of the Korean Peninsula. If this is what happens in Raseon, it has a relatively bright future.

The future of the Hwanggumpyong SEZ is far less certain. Obviously Chinese businesses want to do there what their South Korean counterparts did in Kaesong, take advantage of low labour costs in North Korea. Even though Chinese labour is cheap, North Korean labour is much cheaper still, since US$15-20 a month would be seen by the average North Korean worker as a good wage. For the same labour, they would have to pay a Chinese worker between US$100 and US$150 a month.

But that said, the business reputation of North Korean managers leaves much to be desired. They are likely to intervene in operations − partially as a way to extort bribes, but largely because they will worry about excessive exposure of their population to dangerous Chinese influences. South Korean businesses in Kaesong accept such interference, but they are backed by the South Korean government. It remains to be seen whether the same situation will develop in a Chinese-led zone.

Previous posts on the Sinuiju (including Waudo and Hwangumphyong) can be fond here.

Previous posts on Rason (Rajin-Sonbong) can be found here.

Read the full story here:
North Korea-China special economic zones
East Asia Forum
Andrei Lankov
2011-7-14

Posted in China, Economic reform, Foreign direct investment, Hwanggumphyong and Wihwado Economic Zones (Sinuiju), Kaesong Industrial Complex (KIC), Labor conditions/wages, Rason Economic and Trade Zone (Rajin-Sonbong), Special Economic Zones (Established before 2013) | Comments Closed

DPRK seeks to learn about geothermal energy from PRC

Thursday, July 7th, 2011

According to the China Daily:

China and the Democratic People’s Republic of Korea (DPRK) have agreed to share their experience and beef up cooperation in exploring and utilizing renewable energy.

The agreement was made during a meeting on Wednesday between senior Communist Party of China (CPC) official Zhou Yongkang and a delegation from the Korean Workers Party (KWP), led by Thae Jong Su, an alternate member of the KWP’s Political Bureau and member of the Secretariat.

Thae told Zhou that the main purpose of his current China trip is to learn from China’s experience in developing geothermal resources, as specified by the DPRK’s top leader, Kim Jong-il.

The DPRK hopes to use geothermal energy in its efforts to develop its economy and build a strong and prosperous country, Thae said.

Zhou, a member of the Standing Committee of the CPC Central Committee Political Bureau, told Thae that China would like to enhance its exchanges with the DPRK in the field in order to jointly improve their capability to develop and utilize renewable energy.

“I once worked in China’s oil industry for a long time, so I fully understood the importance of energy to a country,” said Zhou, who is also secretary of the Political Science and Law Committee of the CPC Central Committee.

Zhou served as vice minister of the Ministry of the Petroleum Industry from 1985 to 1988 and went on to work as deputy general manager of the China National Petroleum and Natural Gas Corporation from 1988 to 1996.

He said China has been actively promoting reforms in its energy sector during the country’s 12th Five-year Plan period (2011-2015).

Hailing the sound momentum of China-DPRK relations, Zhou recalled Kim’s successful visit to China earlier this year, during which Kim exchanged views with President Hu Jintao on major issues of common concern.

Kim also sent a congratulatory letter to Hu regarding the 90th anniversary of the CPC’s founding, Zhou said.

“We are glad to see that the two sides have engaged in high-level exchanges and substantial cooperation in various areas and made concerted efforts for common development and regional peace and stability,” he said.

Thae also conveyed greetings from Kim to Hu during the meeting.

The DPRK delegation is visiting China from July 5 to 9 at the invitation of the International Department of the CPC Central Committee.

Senior CPC official Liu Qi also met with the delegation later Wednesday afternoon.

Liu, a member of the Political Bureau of the CPC Central Committee and secretary of the Beijing Municipal Committee of the CPC, said China and the DPRK currently boast “frequent high-level visits, increasing strategic communication, deepening economic cooperation and active cultural exchanges.”

“China is ready to make joint efforts with the DPRK to implement the consensus reached by the two top leaders and further expand exchanges and cooperation in all areas,” Liu said.

Liu said that he hopes the people of the DPRK see continued progress in the country’s development under the leadership of Kim.

Liu also briefed Thae on Beijing’s economic and social development.

In response, Thae said the DPRK and China now enjoy prosperous ties, which have been carefully nurtured by the countries’ top leaders. The DPRK is willing to work with China to carry out practical cooperation and bolster relations to a new high, he added.

Read the full story here:
China, DPRK to boost renewable energy co-op
China Daily
2011-7-7

Posted in China, Energy | Comments Closed

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