Enterprises Ask NK to Improve Business Environment
Business leaders who accompanied President Kim Dae-jung to his historic trip to Pyongyang this week have called on North Korea to improve its business environment by concluding agreements with the South to prevent double taxation and guarantee investments.
They said they made the request during their meeting with North Korean business leaders in Pyongyang.
The leading businessmen also decided to dispatch an investment delegation of around 50 heads of small and medium-size businesses to explore opportunities in the North around August or September.
They also called on the North to establish an industrial complex for small and medium-scale firms close to the northern side of the Demilitarized Zone (DMZ).
They include Kim Jae-chul, chairman of the Korea International Trade Association, Sohn Byung-doo, vice chairman of the Federation of Korean Industries (FKI), and Chang Chi-hyok, chairman of the Kohap Group.
Chairman Chang said he urged his counterparts in the North to globalize their business systems to fit international standards and North Koreans agreed.
Aroundnd ten business executives from the South and eight from the North took part in the meeting.
FKI Vice Chairman Sohn said he told the North Korean businessmen that South Korean firms doing business in the North should be able to protect their assets by North Korean laws and only be taxed at reasonable rates. …