FNF brings economic development expert to North Korea

On 15 August, North and South Korea declared to reopen the Kaesong Industrial Complex, which had been closed in April 2013 during high tensions on the peninsula. Part of their agreement is that the two Koreas will “actively promote the introduction of investment from foreign businesses.” Just one week after this acknowledgement, the Friedrich Naumann Foundation for Freedom (FNF) brought a German expert on the promotion of regional economic development to North Korea.

Peter Nothnagel, Managing Director of the Saxony Economic Development Corporation (WFS), explained how he promotes Saxony as a location for industry and commerce, and how he advises potential investors on relocation projects. In his presentation, he stressed the importance of location factors and indicated how this region in the East of Germany over the last two decades turned into a vibrant economy. The lecture, which was held on 21 August in the Koryo Hotel in Pyongyang, was attended by almost 50 participants from the Ministry of Foreign Trade, the Ministry of Light Industry, and the Joint Venture Commission of the Democratic People’s Republic of Korea.

During the four-day stay, the FNF delegation took the opportunity to discuss political issues with high-ranking representatives of the International Department of the Workers’ Party of Korea and with the new German Ambassador to the DPRK. In addition, the delegation visited the Pyongyang Hosiery Factory, the Kim Won Gyun Conservatory, and several places of interest.