Economic Development Organizations

Korea Economic Development Association

The Korea Economic Development Association (KEDA), established on June 8, Juche102(2013), is a non-governmental organization that cooperates and develops relations with  investors at home and abroad, private enterprises and non-governmental organizations. It also helps the Government’s project for providing favorable investment climate and attracting foreign investment in stepping up the activities of the development of  the Special Economic Zones in the DPRK.

The KEDA is engaged in various works such as analyzing marketing situation and achieving an effective strategy for the sound development of the economic zones in DPRK through utilizing maximum commitment obtaining lucrative experiences in the international and national events such as various seminars, forums and workshops and in exchanging the delegations to attracting investment   in this sector.

It also works to promote cooperation with foreign private organizations and nongovernmental organizations, to assist the economic zone management institutions at all levels through the consultation and agent services. 

Add: Chongryu-dong No.2, Taedonggang District, Pyongyang DPR Korea

Tel: 0085-02-381-5912

Fax: 0085-02-381-5889

E-mail: Sgbed@star-co.net.Kp

Incentives and Preferential Treatment

ㅡ EDZs will  broadly open for promoting  foreign investment of  any foreign corporate bodies, individuals and economic organizations, and the overseas Korean legal institutions  which may wish  to set up enterprises, branches and offices therein and freely conduct economic activities.

ㅡ the corporation is especially encouraging foreign investment to the fields of developing infrastructures, cutting-edge sciences and technologies, and production of internationally competitive goods in the EDZ .

ㅡThe vested rights, invested property and legitimate income of the investors in EDZs shall be protected by law, and neither  nationalizations nor expropriations of the properties and entities  of the investors unless their activities will infringe  the contracts with the EDZ authorities.

ㅡForeign currency may be freely taken in or out of EDZs and legitimate profits and other income may be remitted without any restrictions.

ㅡThe developer shall have priority in obtaining the right of management of tourist business, hotel business and the like and taxes and fees shall not be levied on the properties of the investors .

ㅡ Preferential tariff system shall be enforced in EDZs and free communication facilities shall be provided for the investing entities

ㅡ Enterprises investing in infrastructure, public facilities, and priority sectors shall be given the priorities in the selecting the location of land and entitled to exemption from land rent for a prescribed period in the contract. 

And if an investor will reinvest its dividends to the already made project(s(, 50% of the paid income taxes shall be refunded.

ㅡ Enterprises operating in EDZs for more than 10 years shall be entitled to reduction or exemption of corporate income taxes.

ㅡ The terms of land lease shall be 50 years at maximum and the rate of corporate income taxes shall be 14% of the net profit, and 10% for the enterprises to invest in the priority sectors.

Add: Chongryu-dong No.2, Taedonggang District, Pyongyang DPR Korea

Tel: 0085-02-381-5912

Fax: 0085-02-381-5889

E-mail: Sgbed@star-co.net.Kp