Home GRASP GRASP/Korea North Korea seeks foreign investors to back casino cruise

North Korea seeks foreign investors to back casino cruise

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Cash-strapped nation’s maritime push to attract overseas tourists raises eyebrows.
Fresh from provoking global outrage by launching a volley of missiles into the Sea of Japan, cash-strapped North Korea is inviting foreign investors to fund an international cruise liner in a push to boost maritime tourism.
The Mount Kumgang tourist region, a special development zone and port near the reclusive totalitarian nation’s border with South Korea, is seeking overseas entities to invest up to $20 million to run a 30,000 tonne casino-equipped ship to Southeast Asia and Vladivostok, in eastern Russia.
“We are trying to diversify international tourism at the world-renowned Mount Kumgang by using cruise ship services,” said a statement on the region’s official website.
The tourist zone is located next to the country’s Kangwon province, where Pyongyang unsuccessfully attempted to test fire a ballistic missile on Wednesday.
Outsider access to North Korea — often referred to as the “hermit kingdom” — is restricted, with a limited number of travelers only permitted on highly choreographed tours.
The country and its people are suffering under stringent international sanctions, which look likely to escalate under Donald Trump’s administration in the US.

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