North Korean leader Kim Jong-il plans to create a free economic zone on Bidan Island, which sits at the mouth of the Aprok River bordering China.

According to a Hong Kong-based magazine, the North Korean leader unveiled the economic development plan during a recent visit to the Chinese Embassy in Pyongyang on March fourth.

Bidan Island is also close to the Chinese city of Dandong.

North Korea plans to build a network for economic exchanges with South Korea, China, Japan and Russia and establish a financial center on the island.