On 27 October, KBC participated in a seminar called "Doing Business in North Korea" at the Nearby The Tree bar in the Sanlitun district of Beijing. The event was organized by Paul Tjia of GPI Consultants in preparation for a media tour with 9 European journalists to Pyongyang he was leading. KBC's director Roger Barrett spoke alongside Mr. Tjia and Simon Cockerell of Koryo Tours.
"(The DPRK) finds itself at a new era of international economic cooperation, and it especially welcomes business with Europe," Mr. Tjia said in a statement about the event. "The DPRK is offering various products and services to export markets, while the country is also in need of many foreign products and investments" he said.
Mr. Barrett of KBC stressed to the journalists to take a sober look around during their 5 day visit to Pyongyang, and the need to not be sensational in reporting on the country.
"A textile company was visited. Companies in Europe, China, and South Korea are producing various kinds of clothing in North Korea and some of the local factories have become very large and experienced exporters. With a highly skilled labour force and the lowest wages in Asia, a growing number of foreign garment firms are currently operating in-country" said Mr. Tjia.
The journalists were also given a presentation about changes in economic policy by the DPRK's Academy of Sciences. Plans related to the North's Special Economic Zones and laws related to international joint ventures were also discussed with the European media group.
Click here to view a Dutch media report on the event.
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KBC will be leading business fact finding missions to the DPRK for mining, manufacturing and investment in 2015. Stay tuned for more details, and if this piques your interest, drop us a line at email@example.com.