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Inter-Korea

NK to Oust Shell Corps from Economic Zone

Written: 2008-12-16 16:51:26Updated: 0000-00-00 00:00:00

North Korea will begin revoking the registrations of foreign shell corporations supposedly operating in its special economic zone in Rajin-Seonbong.

Unification Ministry spokesman Kim Ho-nyoun told a news briefing that Pyongyang launched a probe into the shell companies in October.

Kim said a few Chinese companies have already had their registrations revoked.

The zone was created in 1991 in the northeastern part of the nation to attract foreign investment but is considered to be a failure.

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