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Joint Investment Sought with China for Sinuiju

Written: 2006-05-24 17:57:28Updated: 0000-00-00 00:00:00

The government is seeking joint investment with China for the development of the North Korean city of Sinuiju as a special business zone.

Chief of the Presidential Committee for the Northeast Asian Cooperation Initiative Lee Su-hoon said Wednesday that his committee has been proposing the idea of joint investment for the special zone to Chinese provinces and research institutes since last September. Such investment would be aimed at helping Pyongyang open and reform its economy.

Lee said one of the ways to help that reform is to develop and connect the four North Korean strategic points of Gaesong, Mount Geumgang, Sinuiju and the region of Rajin and Sonbong.

On President Roh Moo-hyun's recent comment on Seoul's willingness to make "many concessions" to the North, Lee said the president did not imply making concessions on the western sea border or on the National Security Law.

He added that such concessions would likely involve development of the four regions in the North.

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