The Potential and Benefits of Trade and Business Activities with North Korea
Foreign trade & business activities have always been a tool to communicate between different peoples, maintaining
peace and providing benefits for both parties. Technology has increased these benefits by providing greater
efficiency in the economy. How can it contribute to easing tensions on the Korean Peninsula? With North Korea’s
nuclear rise seen as a threat by neighboring nations, the UN sanctions currently block the country’s trading capacity.
However, at the recent 8th Party Congress, the country’s leadership announced a new focus on economic
development.
China, Vietnam and other socialist countries engage actively in world trade. Could business with North Korea be
interesting for both North Korea and the rest of the world? Does North Korea have the potential to become an
attractive destination for tourism, for example from China, Russia, Japan and South Korea? Is it possible to overcome
the climate of distrust between North Korea and its democratic and capitalist neighbors? Which North Korean
products and services can attract international interest? What are the obstacles to international business with North
Korea? Can the resolutions of the January 2021 North Korean Party Congress boost business activities? What steps should be taken by both sides?
