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North Korea, despite its advantageous geographical location, is largely
isolated from the global economic system. While there have been
attempts at joint investment projects with North Korea such as the
Kaesong Industrial Complex (KIC) and Mount Kumgang Tourist Region,
these failed to bring tangible results. Professor Tom Le and Michelle
Tunger of Pomona College argue that North Korea's economic
development depends on a number of factors that are related to the
regime’s denuclearization efforts, U.S. willingness to lift sanctions, and
the promotion of additional buy-ins by the international community.
Furthermore, China’s influence and its Belt-and-Road Initiative (BRI) are
also important factors that influence economic investments into North
Korea. They contend that "successful joint projects in North Korea will
yield profits for investors, provide greater economic opportunities for
North Koreans, and increase interactions between people beyond
government elites." [Read Commentary]
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