21 Nw. J. Int'l L. & Bus. 199 (2000-2001)
Development of North Korea's Legal Regime Governing Foreign Business Cooperation: A Revisit under the New Socialist Constitution of 1998

handle is hein.journals/nwjilb21 and id is 207 raw text is: Development of North Korea's Legal
Regime Governing Foreign Business
Cooperation: A Revisit Under the New
Socialist Constitution of 1998
Eric Yong-Joong Lee*
Abstract: A primary purpose of this article is to examine the formation
of North Korea's legal regime governing foreign business cooperation and
its evolution in the post-Kim Il Sung 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. The main focus of
this research is on the Foreign Investment Law 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.     A   constitutional perspective,
meanwhile, is maintained throughout the article. In conclusion, the future
of North Korean foreign business laws and their implications in inter-
Korean economic cooperation will be discussed.
* Researcher, Faculty of Law at Erasmus Unversity Rotterdam, The Netherlands. B.A.
(U.W.), M.P.A. (S.N.U.), LL.M. (Leiden), Dr. Jur. (Erasmus). Because of the fast changes
in North Korea's political and economic situation over the last few years, some shortcomings
and omissions may remain. The author wishes to accept full responsibility for the facts and
views expressed herein. Readers' comments are cordially welcome. The author can be
contacted at <grotian@yahoo.com>.

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