January 14, 2008

DPRK Open for Broader Foreign Trade and E-Commerce?

Looks like North Korea is getting savvy with computer technology and is using the internet to reach out internationally to attract broader foreign trade and investment opportunities.

Check out the recently-launched, trial version of Chollima: Economic Website of DPR Korea site, which has a refined look that provides information on North Korea's economic sectors, corporations, products and trade. Surprisingly, it includes advertisements, "hot commodities" section, legal service (forthcoming), market survey (forthcoming), and e-commerce offerings -- with acceptance of credit cards. The e-commerce (called e-shop on this site) feature, though, needs some more refinements (shopping cart, payment processing, delivery options, etc.).

This site is a big enhancement from previous sites on North Korea's trade and business, namely DPRKorea-Trade and Business in Korea (run by the Spain-based Korean Friendship Association). North Korean products such as films, stamps and memorabilia are already available for purchase from global webstores such as eBay, perhaps Chollima administrators should study global market prices for their products.

[Photo: North Korean workers at the Kaesong industrial complex.]

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