(MENAFN- Qatar News Agency) North Korea has established a government agency to facilitate investments in the communist nation by overseas Koreans, with its services to get into full swing by January, an official was quoted Sunday as saying.
Pyongyang established the "economic cooperation office for overseas Koreans" in August to provide support and guidance for investments from Koreans living overseas, the agency's chief Pak Kyong-jin said in an interview with Minjoktongsin, a pro-North Korean website operated by a US-based Korean
The agency's establishment is part of efforts to rebuild the economy, Pak said
"An increasing number of overseas Koreans have been visiting the North to discuss investment issues
We have established the agency to handle these issues exclusively," he was quoted as saying, adding that the agency will begin operation in earnest in January
Pak said he would advise potential investors to focus on construction and light industries for the time being, rather than resources development projects that require massive amounts of capital, according to South Korea's (Yonhap) News Agency
Pak denounced speculations about instability as being part of a smear campaign against Pyongyang.
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