• North Korea has developed its own operating system

• Economy of North Korea

• North Korea has a military nuclear weapons program and, as of early 2020

• Entrepreneurship, Business, and Economic Reform in North Korea

• What to Know About Doing Business in North Ko

NORTH KOREA:

North Korea has developed its own operating system, the Red Star, and has an intranet network named Kwangmyong, which contains censored content from the Internet. North Korean IT specialists demonstrate a high degree of technological literacy.

ADVANCED TECHNOLOGY:

South Korea is also among the world’s most technologically advanced and digitally connected countries; it has the third most broadband Internet users among the OECD countries and is a global leader in electronics, digital displays, semiconductor devices, and mobile phones:

North Korea’s most recent test of an intercontinental ballistic missile, in November 2017, demonstrated the potential to reach anywhere in the U.S. Missile experts estimate its range at 8,100 miles, and say a North Korean ICBM could hit the U.S. mainland less than 30 minutes after launch.
North Korea has a military nuclear weapons program and, as of early 2020, is estimated to have an arsenal of approximately 30 to 40 nuclear weapons and sufficient production of fissile material for six to seven nuclear weapons per year.

Entrepreneurship, Business, and Economic Reform in North Korea:

Over a decade of work, we have trained close to 3,000 North Koreans in economic policy, business, and entrepreneurship. We bring volunteers to the country to lead workshops on these topics. Since COVID-19, we started an online program to deliver programs to our audience. Over the last decade, we have seen an increasing sophistication among North Korean entrepreneurs in terms of the businesses they operate, their scale and their ability to cooperate with foreign partners.

When we started, many North Koreans we met were in trading businesses or restaurants. Over time, we have seen new concepts, such as convenience store chains, property development, manufacturing, or even e-commerce take root. This speaks to the increased sophistication of small and medium-sized businesses. This group has been growing in skills, capital, and opportunity. We have spoken to ambitious North Koreans who have seen the changes in Asia and seek to replicate those changes back

What to Know About Doing Business in North Korea:

Recent signs of North Korea opening itself up mean more investment opportunities in one of the world’s most isolated countries. As famous American businessman Jim Rogers once said: “Investors can make a fortune in North Korea.” If he is right, it might be the ideal time to make moves.According to U.S.-based investment consultants, several American companies have already taken the lead.

MacDonald’s:

North Korea does not have McDonald’s, nor do they have KFC,Burger King, or any other Western fast-food restaurant chain because North Korea runs a totalitarian government. However, rumors have swirled since 2018 that North Korea was interested in a McDonald’s location, but nothing ever came of it.

Export goods	minerals, metallurgical products, manufactures (including armaments), textiles, agricultural and fishery products
Main export partners	China 67% (2019)
Imports	$2.7 billion (2021 est.)
Import goods	petroleum, coking coal, machinery and equipment, textiles, grai

By /Hamza ishfaq chief editor and CEO