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China Takes Lead on Sino-North Korean Economic Development Project in Rason

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공표년도

창작년도

2011-06-23

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On June 9th‚ China and North Korea broke ground on the economic development zone in the North Korean border city of Rason in the presence of senior officials from both countries.
It was the first time the two allies had jointly launched such an initiative.
And now‚ analysts say‚ China is taking the lead by only allowing the Chinese central government and its state-run firms take part in the project.
According to several reports‚ China's commerce ministry has ordered the Chinese city of Hunchun‚ near Rason‚ to avoid making any contact with foreign businesses or private enterprises regarding the development of sino-North Korean econom ic zones.
China's state-run Yatai Group has already starting building a cement factory in Rason.
Once completed‚ the factory will produce over 1-million tons of cement which will be used to construct the trade zones.
Yatai Group has also announced that its plans to push ahead with additional businesses in Rason‚ in areas such as mining‚ trade‚ pharmaceuticals and much more.
Analysts say that such action taken by China could affect Korean companies in and around Hunchun that currently run their own inter-Korean businesses.
Lee Ji-yoon‚ Arirang News.
Reporter : jiyoonjlee@arirang.co.kr

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