September 21, 2023

How N. Korean defector-run businesses are changing lives

Defectors are becoming entrepreneurs - and healing the wounds of the past

Social entrepreneurs are offering the defector community something rare: opportunities that are tailored for the difficulties they face in their lives. And with a business model focused on North Koreans, this kind of entrepreneurship is providing an alternative to the intense world of South Korean capitalism.

Kim Jeong-tae is CEO of an "impact investing" and consulting company, Merry Year Social Company (MYSC)MYSC invests in two social enterprises related to North Korean defectors - investments that other companies tend to avoid because of the low short-term return on investment.