July 06, 2022

North Korea seeks scrap tires, $500,000 in foreign investment for rubber plant

Request 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.