Published on : Friday, March 24, 2017
North Korea might be hostile to the outer world, but in present times, it is seeking foreign investments to back a casino cruise liner. In order to attract tourists from overseas, it established the Mount Kumgang tourist region, a special administrative region that borders South Korea, in 1998 in a bid to boost its tourism industry. This has helped in fetching legal sources of hard currency into Pyongyang.
In spite of all measures, access to North Korea still remains highly restricted. Travelers are able to visit this reclusive, authoritarian country in highly guarded tours. North Korea is seeking up to $20 million in investments from foreign entities to run its cruise ship, which is currently docked at Kosong Port near Mount Kumgang, and establish routes to Southeast Asia and Vladivostok in eastern Russia.
An investment proposal listed on Mount Kumgang’s website this month said the 30,000-ton Royale Star, a Soviet-era cruise ship capable of carrying 1,000 travelers, can operate a casino business, even though gambling remains strictly prohibited in the country.