North Korea is believed to have approved a request by a foreign company to do business in the North’s special zone for international tourism.

Sources in Beijing said Monday that a foreign company secured approval from the North’s Guidance Bureau of Special Zone for International Tour of Mount Geumgang.

The foreign firm has secured 800-thousand dollars in investment from people in Hong Kong and 200-thousand dollars in investment from ethnic Koreans living in China to run a cruise ship business that transports tourists from ports in China’s eastern regions to the North. The firm also plans to operate a casino, a duty free shop and a hotel in the special zone in the scenic mountain resort.

The firm’s recent move comes as problems surrounding Hyundai Asan’s exclusive rights over tourism in Mount Geumgang and the South Korean firm’s assets in the mountain resort have yet to be resolved.