News Summary: North Korea to expand economic zones

AP News
Posted: Oct 16, 2013 1:51 PM

COURTING INVESTMENT: North Korea plans to set up more special economic zones and has created a group to assist potential foreign investors in a bid to bolster its economy, state media and the organizers of a rare international conference in Pyongyang said Wednesday.

THE BACKDROP: North Korea officially follows a rigid planned economy, but authorities have tolerated unofficial capitalist activities for years. It has experimented with special economic zones as a means of enticing foreign investment since the 1990s.

RISKY BET: North Korea is still regarded as too risky by many businesses.