North Korea yesterday announced new real estate and insurance laws targeted at foreign investors, according to an article from the Korean Central News Agency (KCNA).

Although low on detail, the laws will apply to North Korea’s Special Economic Zones (SEZs).

“The rule of real estate consists of seven chapters and 59 articles and the rule of insurance four chapters and 52 articles. The rules deal with possession, registration and employment of real estates, their rent and rate, conclusion of insurance contract, formalities of insurance offices,” the KCNA article reads.

New provisions on real estate