January 21, 2021

N.Korea to establish cosmopolitan, financial hub for foreigners in Wonsan

Detailed plans published on North Korea's Naenara news portal

North Korea is planning to build rental apartments and an international financial complex for foreigners in the heart of Wonsan, documents on the North’s Naenara news portal show.

The Wonsan-Mt. Kumgang International Tourist Zone was announced in 2014 and an investment proposal titled ‘Integrated Development of Jung-dong' - present on Naeanara as far back as April - provides further details of North Korea’s intention to establish an investment hub.