North Korea seeking to attract investors

North Korea wants to raise $39m (€35.5m) from foreign investors to fund a new brewery in Wonsan, an eastern port city where national leader, Kim Jong Un, has big development ambitions.

The isolated country has announced 100 projects seeking foreign investment in the Wonsan-Kumgang Development Zone, a mountainous region where Kim keeps palaces and a summer residence.

“They’re looking at this as a new East Asian business and tourism hub,” said Michael Spavor, an independent consultant who is helping a Wonsan investment committee to raise $150m in foreign funds, including for the brewery.