This Article is composed of three Parts. Part I reviews the establishment of the SEZs in North Korea. This Part will introduce four SEZs currently in action and the grand scheme of the Tumen River Area Development Project. The backgrounds, purposes, and roles of the SEZs will also be addressed in this part. Part II deals with the legal instruments of North Korea involved in the economic reformation in these zones. This Part will systematically analyze the laws and regulations relating to inducing foreign investment in SEZs. Part III investigates protection against political risks in the SEZs, which is one of the critical issues in international economic relations. In the case of North Korea, which is currently undergoing the political disturbance of the nuclear standoff, foreign investors are likely very concerned with protection of their investments in North Korea. After searching for the international legal principles and methods for the protection against political risks, this Part will explore actual laws and regulations of North Korea available to guarantee the legal rights and interests of foreign investors. A few provisional agreements between North Korea and South Korea will be discussed in the final Part.
Eric Yong-Joong Lee,
The Special Economic Zones and North Korean Economic Reformation with a Viewpoint of International Law,
27 Fordham Int'l L.J. 1343
Available at: http://ir.lawnet.fordham.edu/ilj/vol27/iss4/5