The Rajin-Sonbong Economic Special Zone was established by the North Korean government (DPRK) near Rason to promote economic growth through foreign investment. It is similar to the Special Economic Zone setup by the People's Republic of China and elsewhere to pilot market economics in a designated area. The People's Republic of China is investing in the zone, [1] and the use of foreign currency is permitted. [2]
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Administration
The Rajin-Sonbong Economic Special Zone is administered by the Committee of External Economic Cooperation (CPEEC). Foreign companies must be invited by the Committee of External Economic Cooperation (CPEEC) in order to participate in the special zone.
Geographical Location
The 746 km². Rajin-Sonbong economic special zone is situated on the western side of the Tumen River in North Korea. It is physically located between 42 08'-42 38'N. And 130 07'-130 42'E. This location is in the east-most end of the country, close to both Russia and China. See the location here: 42°22′00″N 130°25′00″E / 42.366667°N 130.416667°E
See also
References
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