South Korea’s government-run land development agency plans to conduct a research project investigating the potential for special economic zones (SEZ) and industrial complexes in North Korea, a proposal seen by NK News reveals.

The Korea Land and Housing Corporation (LH) previously invested KRW110.3 billion (around USD$97.7 million) into a first-stage research project on now-shuttered Kaesong Industrial Complex (KIC) and parcelled out the right to use the land to South Korean companies.

The LH now plans to commission the SEZ-focused research project with the view that Pyongyang will soon promote an open-door policy, including the designation of a new special economic zone