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.

“As a result of irreconcilable differences between the board of Phoenix and the local management, Phoenix Commercial Ventures Ltd has terminated its association with Hana Electronics JVC with immediate effect,” a statement posted by Phoenix said on September 3.

“Phoenix has no