An analytical Review on the Development of North Korea’s FIL(Foreign Investment law) : FIL, Foreign Investment law, North Kore
- 발행기관 서강대학교 국제대학원
- 지도교수 왕상한
- 발행년도 2005
- 학위수여년월 200508
- 학위명 석사
- 학과 및 전공 국제대학원
- 식별자(기타) 000000084723
- 본문언어 영어
초록/요약
The last decade of the 20th century began with optimism for all Koreans. Moving beyond their previously hostile relations, the two Koreas entered a new stage of cooperation. In particular, North Korea has gradually opened its doors to the outside and has begun to formulate legal and regulatory measures to effectuate its new national policies. Since the early 1990s, the government of North Korea has passed laws and regulations that establish a framework for foreign business cooperation. The origin of North Korea''s legal development in this field, however, dates back to the mid-1980s. In September 1984, North Korea promulgated the Joint Venture Law, its first legal measure regarding external economic relations. North Korea, in default and thus unable to attain additional foreign loans or credits, wanted to bring in foreign capital and technology with this legislation. With the Joint Venture Law, the North Korean government sought to open its doors cautiously and induce foreign capital investment, while maintaining a self-reliant socialist system. Regrettably, the 1984 Joint Venture Law did not result in the favorable outcome intended. As mentioned, North Korea has been trying to develop its economy. However, as we know, the overall infra-structure is pretty weak. Thus, North Korea has started to reform by changing relevant provisions to attract foreign investment under the catch phrase of under the catch phrase of Open door policy and Formation of New Foreign Business Law. The first remarkable official announcement could be found in 1992, which is called as North Korea’s Foreign Investment Law. Later in 1999, this law was further strengthened by three important laws concerning the establishment and management of foreign business in North Korea: the Law of the DPRK on Equity Joint Venture, the Law of the DPRK on Contractual Joint Venture, and the Law of the DPRK on Foreign Enterprise. Actually, the provision was the Law of the DPRK on Joint Venture of 1984 and this could be called as a symbol of opening its market, which was revised in 1992, and further strengthened again in 1999. The general character of the 1999 FIL is for business activity in which investors from the DPRK and from foreign a country invest jointly, with production and management being assumed by the host partner. And the portion of the investment made by the foreign partner is redeemed or the portion of profit to which the foreign partner is entitled is allotted in accordance with the provisions of the joint venture contract. Owing to this revised law, albeit not significantly, North Korean economy has grown, if compared to that of past time and it was a stepping stone to induce foreign invest in the four industrial complexes; Rajin-Sonbong, Kyesung, Shinuiju, and the Mt. Geumgang. These new movement can be seen as their will to reform. Therefore, a primary purpose of this research is to examine the formation of North Korea''s legal regime governing foreign business cooperation and its evolution in the Kim Jung Il era. Since initiating its open-door policy in the early 1990s, North Korea has developed the legal framework for external economic cooperation. The Law of the Democratic People''s Republic of Korea ("DPRK") on Foreign Investment of 1992 and its 1999 revision has especially represented North Korea''s legal and policy direction towards inducing foreign capital investment, as well as establishing a legal basis for the following laws and regulations in this field. Thus, the main focus of this research is on the Foreign Investment Law on the basis of a case study and its relevant legislation, including the Equity Joint Venture Law, the Contractual Joint Venture Law and the Foreign Enterprises Law. The Law of the DPRK on Joint Venture of 1984, which is the original model of lawmaking in external economic cooperation, will be also examined. Furthermore, in conclusion part, the future of North Korean foreign business laws and their implications in inter-Korean economic cooperation will be discussed and offered.
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