A well placed Chinese-Korean business source who works regularly inside the DPRKhas told NK News that there are plans to convert the north-eastern city of Chongjin into a special economic zone (SEZ) “very soon.” Interestingly, the source said that the Chongjin SEZ would be a “real one”, unlike the somewhat limited Rason initiative. A second source on the matter confirmed the source's report, but added that when established city would be restricted to Chinese investment only – something that might not be that surprising given the already strong Chinese presence there (consular office, Chinese hotel, etc)
[caption id="attachment_35422" align="alignleft" width="210"] Power Plant in Chongjin[/caption]
A well placed Chinese-Korean business source who works regularly inside the DPRKhas told NK News that there are plans to convert the north-eastern city of Chongjin into a special economic zone (SEZ) “very soon.” Interestingly, the source said that the Chongjin SEZ would be a “real one”, unlike the somewhat limited Rason initiative. A second source on the matter confirmed the source's report, but added that when established city would be restricted to Chinese investment only – something that might not be that surprising given the already strong Chinese presence there (consular office, Chinese hotel, etc)
[caption id="attachment_35422" align="alignleft" width="210"] Power Plant in Chongjin[/caption]
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Chad O'Carroll is the founder of NK News/NK Pro and related holding company Korea Risk Group. In addition to being the group's CEO, O'Carroll is a frequent writer and commentator about the Koreas, having written about the two nations since 2010. He has visited the DPRK multiple times, worked and lived in Washington, D.C. with a focus on peninsula issues, and lived in the ROK since 2016.
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