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Presentation on „Business opportunities in DPRK? A European view on North Korea`s external trade, the Gaesong Industrial Complex and the current economic situation in DPRK” at the Business School of Korea University
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April 15, 2010, Dr. Bernhard Seliger, representative of Hanns-Seidel-Foundation in Korea, presented on „Business opportunities in DPRK? A European view on North Korea`s external trade, the Gaesong Industrial Complex and the current economic situation in DPRK” at the Business School of Korea University. Economic contacts between North Korea and the rest of the world are first restricted because North Korea is politically isolated due to its nuclear ambitious, including the effect of sanctions, and second internally, important preconditions for trade are absent, among them functioning communications and transparency. Therefore, North Korea is one of the countries with the lowest export-to-GDP ratio in the world. Hanns-Seidel-Foundation Korea from 2006 to 2009 in an EU-financed programme brought basic knowledge on trade to North Korean managers, economic administrators and academics as part of the „EU-DPRK Trade Capacity Project“. However, without structural change in North Korea the possibilities for stronger trade relations are dim.
In a presentation at the Business School of Korea University, organized by business professor Martin Hemmert, Dr. Seliger spoke to future business leaders of South Korea about the possibilities to trade with North Korea. Only in a few well defined areas like highly specialized raw material trade currently business might be possible, but not in daily “bread and butter” trade like in the manufacturing sector. More trade, however, is according to Dr. Seliger a precondition for higher welfare. This, however, cannot be forced upon North Korea by the outside, but must be the result of internal reforms.
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The audience in the Business School of
Korea University.
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Lecture of Dr. Bernhard Seliger on business
opportunities in DPRK
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