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N. Korea needs to develop northeastern ports to revive economy: study

All News 15:33 September 21, 2018

SEJONG, Sept. 21 (Yonhap) -- North Korea needs to develop key ports and logistics facilities to boost trade and revive its economy, especially in northern border areas, a study showed Friday.

Lee Seong-woo, a port and logistics research chief at the state-run Korea Maritime Institute, said Najin and Chongjin, located on North Korea's northeastern border, will play an important role in transforming the reclusive nation's economic landscape.

In the study published in the Korea Development Institute's review on the North Korean economy, Lee said Pyongyang should develop its northeastern ports to reduce its heavy economic reliance on China and Russia.

The researcher said the North should consider taking steps to link the two Koreas, as well as the Eurasian and Pacific regions, in the long term to boost trade and investment.

According to the report, North Korea has 137 ports on its western coast and 152 in the east. Only nine of them handle international cargo, including Najin and Chongjin, while others are small-scale and suited only for fishing boats.

North Korean leader Kim Jong-un inspects a shipyard in Chongjin, North Hamkyong Province, in this footage aired by North Korea's Korean Central TV Broadcasting Station on July 17, 2018. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)

North Korean leader Kim Jong-un inspects a shipyard in Chongjin, North Hamkyong Province, in this footage aired by North Korea's Korean Central TV Broadcasting Station on July 17, 2018. (For Use Only in the Republic of Korea. No Redistribution) (Yonhap)

ejkim@yna.co.kr
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