BREAKING NEWS

Report: China to make massive investment in NKorea

SEOUL, South Korea — China plans to invest billions ofdollars in North Korea in an apparent effort to prod the impoverishedcountry to rejoin international nuclear disarmament talks, a newsreport said Monday.
The news came one week after North Koreanleader Kim Jong Il told a visiting high-level envoy from Beijing thathe was committed to a nuclear-free Korea. Kim subsequently dispatchedhis top nuclear envoy to Beijing for talks on the resumption ofsix-nation negotiations on ending its nuclear program in return for aid.
Severalstate-run Chinese banks and other multinational companies neared anagreement to invest about $10 billion to build railroads, harbors andhouses in North Korea following their negotiations with Pyongyang'sofficial Korea Taepung International Investment Group, according toSeoul's Yonhap news agency.

Subscribe for our daily newsletter
Subscribe for our daily newsletter

By subscribing I accept the terms of use and privacy policy

Read all Tweets >