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Chinese firm asks for S. Korean investment in North Korea's Rajin Port

All Headlines 09:00 February 17, 2019

By Kim Kwang-tae

SEJONG, Jan. 17 (Yonhap) -- The Chinese firm in charge of management in North Korea's Rajin Port has asked the Busan Port Authority to invest in the North Korean logistics hub, a senior official said.

The Chinese company, led by an ethnic Korean, made the request about two months ago, Nam Ki-chan, president of the port authority, said earlier this week. He did not identify the Chinese company.

He said Busan is prepared to move into Rajin Port near the border with Russia once sanctions on North Korea are lifted.

In 2017, the U.N. Security Council tightened sanctions to punish Pyongyang for its sixth and most powerful nuclear test in September of that year. The sanctions are meant to cut off revenue for the communist regime and stop its development of nuclear weapons and missiles.

Pyongyang has repeatedly called for the lifting of sanctions, but the U.S. has maintained that present restrictions will remain in place until the North take concrete steps to get rid of its weapons of mass destruction.

The Chinese company then said it secured a deal to manage the Rajin Port for 40 years, a claim that has not been independently verified.

This file photo taken in July 2018 shows the North Korean port of Rajin (Yonhap)

entropy@yna.co.kr
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