Signing of Basic Agreement on Sinuiju Special Administrative Zone

Chinese-born tycoon Yang Bin, chairman of Eouya group (歐亞), who was expected to be designated as first governor of Sinuiju special administrative region, and Kim Yong-sul, chairman of the Committee for Promotion of External Economic Cooperation, signed on Sept. 23 a basic agreement on the development and management of Sinuiju special administrative district, reported Pyongyang’s official Korean Central Broadcasting Station (KCBS) on Sept. 24.

The KCBS introduced chairman Yang as president of the Holland International Import and Export Trade Company, but it did not confirm whether the Dutch-Chinese CEO had been appointed the governor of the newly designated special economic zone.

At a banquet held after the signing ceremony, with regard to the ordinance of North Korea’s Presidium of the Supreme People’s Assmbly, Mr. Yang said, “I pay my respects to North Korean National Defense Chairman Kim Jong-il, the North Korean government and North Korean people,” reported the state-run broadcasting station. He also stressed that the plan on Sinuiju special administrative zone would succeed and make contribution to the peace and stability of Northeast Asia and the World.

According to the broadcasting station, those who participated at the banquet include Jo Chang-dok, Vice-Prime Minister of the Cabinet, Kim Yong-sul, Chairman of the Committee for Promotion of External Economic Cooperation, Jo young-nam, and Park Kung-sam, Pyeonanbukdo bureau chief of the People’s Assembly.

Moon-Sang Son esprit@donga.com