FKI and Korea Peninsula Peace Economy Forum "Full-scale Development of North Korea Tourism Development Zone Expected"

'2020 North Korea Situation and Economic Outlook Seminar'

[Asia Economy Reporter Dongwoo Lee] The Federation of Korean Industries (FKI), in collaboration with the Korea Peninsula Peace Economy Forum, announced that it held the "2020 North Korea Situation and Economic Outlook Seminar" on the 14th at the FKI Hall in Yeouido, Seoul.

At the seminar, Senior Research Fellow Hanbeom Cho of the Korea Institute for National Unification presented "The Hidden Picture of the 7th Party Congress 5th Plenary Meeting and the 2020 New Year North Korea Situation," stating, "Since North Korea declared a self-reliance policy at the plenary meeting in December last year, it is expected to focus on the full-scale development of tourism development zones, which are exceptions to U.S. and UN international sanctions."

Senior Research Fellow Cho cited as evidence that North Korean State Affairs Commission Chairman Kim Jong-un emphasized compressing the U.S.-North Korea confrontation into a confrontation between self-reliance and sanctions against North Korea, strengthening national executive power and control to directly overcome difficulties.

He also mentioned that North Korea has continuously pursued the development of three tourism zones exempt from U.S. and UN sanctions: Wonsan-Galma Coastal Tourist Zone, Samjiyon Town Zone, and Yangdok Hot Spring Cultural Recreation Zone.

FKI Executive Director Chiseong Eom said, "Denuclearization negotiations and U.S.-North Korea relations are expected to remain difficult this year, but we must always be prepared for progress in inter-Korean economic relations," adding, "The FKI will continuously monitor the North Korean economy and make efforts to prepare for inter-Korean economic cooperation centered on businesses."

Meanwhile, about 50 individuals related to inter-Korean affairs attended the seminar, including Director Kangtaek Im of the Korea Institute for National Unification, Executive Vice President Seongsu Park of the Korea Importers Association, and Chairman Inseong Jeong of the Korea Peninsula Peace Economy Forum.

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