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The Rajin-Sonbong free trade zone experiment: North Korea in pursuit of new international linkages

Cotton, James

Description

In 1991 North Korea declared Rajin City and Sonbong County a Free Economic and Trade Zone (FETZ), in which foreign owned enterprises would be permitted to operate. So far, Pyongyang has invested 150 million won in upgrading facilities, and has introduced a comprehensive regime of laws and regulations. Other investments are now also in evidence, notably modernised telecommunications, foreign banking, and containerised cargo facilities. Promised foreign investment in the FETZ now totals over US$1...[Show more]

dc.contributor.authorCotton, James
dc.date.accessioned2003-09-18
dc.date.accessioned2004-05-19T08:12:41Z
dc.date.accessioned2011-01-05T08:34:38Z
dc.date.available2004-05-19T08:12:41Z
dc.date.available2011-01-05T08:34:38Z
dc.date.created1996
dc.identifier.urihttp://hdl.handle.net/1885/40379
dc.identifier.urihttp://digitalcollections.anu.edu.au/handle/1885/40379
dc.description.abstractIn 1991 North Korea declared Rajin City and Sonbong County a Free Economic and Trade Zone (FETZ), in which foreign owned enterprises would be permitted to operate. So far, Pyongyang has invested 150 million won in upgrading facilities, and has introduced a comprehensive regime of laws and regulations. Other investments are now also in evidence, notably modernised telecommunications, foreign banking, and containerised cargo facilities. Promised foreign investment in the FETZ now totals over US$1 billion, with $43 million committed to date. North Korean plans envisage three different types of development. First, Rajin is to become a major container port for the Northeast Asian region; second, the zone is to become a tourist destination; third, the zone is to host export oriented industry. Pending improved inter-Korean relations tourism may be the most prominent development. This will undoubtedly entail social and perhaps political costs. Meanwhile (with United Nations assistance) a new Tumen regional agenda has emerged which would tax the commitment of most countries to regional cooperation, but will pose particular difficulties for Pyongyang. Given the economic difficulties North Korea now faces, the success of this experiment (together with the outcome of the 1994 nuclear deal with the United States) will determine whether the government in Pyongyang will avoid collapse.
dc.format.extent95958 bytes
dc.format.extent349 bytes
dc.format.mimetypeapplication/pdf
dc.format.mimetypeapplication/octet-stream
dc.language.isoen_AU
dc.subjectfree trade
dc.subjectNorth Korea
dc.subjecteconomic policy
dc.subjectport
dc.subjectexport
dc.subjecttourist destination
dc.subjectFETZ
dc.subjectFree Economic and Trade Zone
dc.subjectRajin-Sonbong
dc.titleThe Rajin-Sonbong free trade zone experiment: North Korea in pursuit of new international linkages
dc.typeWorking/Technical Paper
local.description.refereedno
local.identifier.citationmonthdec
local.identifier.citationyear1996
local.identifier.eprintid1977
local.rights.ispublishedyes
dc.date.issued1996
local.contributor.affiliationANU
local.contributor.affiliationDepartment of International Relations, RSPAS
local.citationWorking paper no.1996/9
CollectionsANU Research Publications

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