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Jacob Fromer
Jacob Fromer is NK News's Washington DC correspondent. He previously worked in the U.S. Senate.
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News North Korea seeks scrap tires, $500,000 in foreign investment for rubber plantRequest for outside funding comes despite UN ban on joint ventures with DPRK companies
A North Korean trading company wants foreign investors to chip in to a rubber factory on the country’s east coast, according to a posting on an official government foreign trade website. The direct, public call for outside funding — $500,000 and an “in-kind investment of scrap & secondhand tires” — comes as the North continues to search for ways to bolster its economy despite a sweeping array of punishing sanctions tied to its nuclear weapons program. It’s unclear when precisely the bid was uploaded, though it is believed to have appeared online in the past month. According to the posting, © Korea Risk Group. All rights reserved. |