Rajin-Sonbong Economic Special Zone
Encyclopedia
The Rajin-Sonbong Economic Special Zone was established by the North Korean government (DPRK) near Rason to promote economic growth through foreign investment. It is similar to the Special Economic Zone
setup by the People's Republic of China
and elsewhere to pilot market economics in a designated controlled area. Chinese
and Russia
n companies have invested in the economic zone, and the use of foreign currency is permitted. Bloomberg reported that ground was broken in June 2011 on the initial stage of zone.
The first joint North-South company called Chilbosanmeri Joint Company has been formally established in Rajin-Sonbong Economic Special Zone.
The 746 km2 Rajin-Sonbong economic special zone is situated on the western side of the Tumen River
in North Korea. It is physically located between 42 08'-42 38'N. And 130 07'-130 42'E. This location is in the east-most end of the country, close to both Russia
and China
. See the location here: 42°22′00"N 130°25′00"E
The area is surrounded by a 56 kilometres (34.8 mi) long electrified fence.
) to Russia, from where it continues onto the Trans-Siberian Railway
.
Special Economic Zone
A Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
setup by the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
and elsewhere to pilot market economics in a designated controlled area. Chinese
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
and Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
n companies have invested in the economic zone, and the use of foreign currency is permitted. Bloomberg reported that ground was broken in June 2011 on the initial stage of zone.
Administration
The Rajin-Sonbong Economic Special Zone is administered by the Committee of External Economic Cooperation (CPEEC). Foreign companies must be invited by the Committee of External Economic Cooperation (CPEEC) in order to participate in the special zone.The first joint North-South company called Chilbosanmeri Joint Company has been formally established in Rajin-Sonbong Economic Special Zone.
Geographical Location
Tumen River
The Tumen River is a 521 km-long river that serves as part of the boundary between China, North Korea, and Russia, rising in Mount Baekdu and flowing into the Sea of Japan....
in North Korea. It is physically located between 42 08'-42 38'N. And 130 07'-130 42'E. This location is in the east-most end of the country, close to both Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
. See the location here: 42°22′00"N 130°25′00"E
The area is surrounded by a 56 kilometres (34.8 mi) long electrified fence.
Economy
Some analysts think the special zone is more of project for North Korea to experiment with the capitalist economy rather than use it as basis of transforming the whole North Korean's economy.Transport
Chinese investors are renovating a road from Rason to China, and Russian railway workers are renovating the railway from Rason (which is on the Pyongra LinePyongra Line
The Pyongra Line is a railway line in North Korea, running from Pyongyang to Rajin....
) to Russia, from where it continues onto the Trans-Siberian Railway
Trans-Siberian Railway
The Trans-Siberian Railway is a network of railways connecting Moscow with the Russian Far East and the Sea of Japan. It is the longest railway in the world...
.
See also
- Kaesŏng Industrial RegionKaesong Industrial RegionKaesŏng Industrial Region is a special administrative industrial region of North Korea. It was formed in 2002 from part of Kaesŏng Directly Governed City.-Kaesŏng Industrial Park:...
- Special economic zoneSpecial Economic ZoneA Special Economic Zone is a geographical region that has economic and other laws that are more free-market-oriented than a country's typical or national laws...
- Economy of North KoreaEconomy of North KoreaThe economy of North Korea is an industrialized and centrally planned economy.North Korea's economy remains one of the world's last centrally planned systems. The role of market allocation is sharply limited – mainly in the rural sector where some peasants sell produce from small private plots....
External links
- Rajin-Sonbong Economic & Trade Zone: Investment & Business Guide, United Nations Industrial Development OrganizationUnited Nations Industrial Development OrganizationThe United Nations Industrial Development Organization , French/Spanish acronym ONUDI, is a specialized agency in the United Nations system, headquartered in Vienna, Austria...
, 1998 - Information on Entry & Investment into Rajin-Sonbong District
- Rajin SEZ electrified perimeter on Google Earth