Economics
N. Korea’s New Economic Zone Signals Deepening Ties With China
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North Korea said it will set up a new economic zone near its border with China, signaling the nation’s deepening dependence on its economic benefactor after leader Kim Jong Il’s three visits there in the past year.
The Hwanggumphyong and Wihwa Islands Economic Zone will be set up to “boost friendship with China and expand and develop external economic relations,” North Korea’s state-run Korean Central News Agency said late yesterday, citing a parliamentary decree. The report didn’t elaborate on the development plans.