May 17, 2022

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Well-known electronics joint venture terminated in Pyongyang

'Irreconcilable differences' cited as reason for the termination of joint venture

A well-known joint venture between North Korea's Hana electronics company and the foreign-owned Phoenix Commercial Ventures Ltd. has been terminated, a statement published last week said.

Hana Electronics JVC was once ranked as one of North Korea's top performing joint ventures, with over 200 staff specializing in the production and distribution of DVDs, VCDs and associated playback equipment.