NAPSNet Daily Report 20 October, 2010
Contents in this Issue:
1. DPRK on Nuclear Talks
RIA Novasti (“NORTH KOREA ‘IN FAVOR’ OF DENUCLEARIZATION OF KOREAN PENINSULA”, Moscow, 2010/10/20) reported that the DPRK is in favor of the denuclearization of the Korean Peninsula and is ready to abide by the agreements reached at the 2005 six-party talks in Beijing, Pyongyang’s acting Charge d’Affaires in Russia, O Seung-Ho, said on Wednesday. The six mediators are currently preparing to resume the talks, Russian Foreign Ministry spokesman Andrei Nesterenko said earlier on Wednesday.
2. Inter-Korean Economic Relations
IFES NK Brief (“INVESTORS IN DPRK TAKE HUGE HITS; INTEREST IN FDI PLUMMETS”, 2010/10/20) reported that the majority of joint ventures investing in the DPRK have suffered significant losses since the ROK government began to enforce sanctions as a result of the sinking of the ROKS Cheonan. On average, companies have incurred losses of almost one billion won, and most companies are no longer interested in investing in the DPRK. According to the Korea Chamber of Commerce and Industry, a survey of 500 companies (200 inter-Korean economic cooperative schemes and 300 other companies involved in business with the DPRK) showed that 93.9 percent of respondents said they had suffered losses due to trade restrictions put in place due to the Cheonan incident, while 66.5 percent responded that they faced “financial difficulty” due to the sanctions. The companies have suffered an average of 974 million won in losses.
3. PRC Investment in the DPRK
Capital Vue (“CHINA GUODIAN PLANS INVESTMENT IN NORTH KOREA”, 2010/10/20) reported that China Guodian Corporation intends to invest in the DPRK, reports yicai.com, citing information on the company’s website. Guodian’s vice general manager commissioned an investigation into the DPRK’s infrastructure, namely expressways, ports, as well as chemical and power generation facilities during a visit to the DPRK from October 11-13. The company did not disclose further information regarding those plans.
4. ROK, Japan Nuclear Technology Exports
Mainichi Shimbun (“SUMITOMO, KOREA ELECTRIC TO BUILD POWER PLANT IN ABU DHABI”, 2010/10/20) reported that a consortium of Sumitomo Corp. and Korea Electric Power Corp. has won priority negotiation rights to build and manage a large thermal power plant planned by the government of Abu Dhabi, sources close to the matter said Monday. The Japanese and ROK partnership is expected to sign a formal contract by year-end, the sources said.
5. Sino-US Space Cooperation
Al Jazeera (“NASA CHIEF ON VISIT TO CHINA “, 2010/10/20) reported that speculation that Charles Bolden may hold talks on possible co-operation in space with Beijing during six-day visit. Charles Bolden, the head of Nasa, has arrived in the PRC for a six-day official visit during which analysts believe he may holds talks on possible co-operation with the emerging space power. Bolden’s trip comes just two weeks after the successful launch of a second PRC lunar probe, Chang’e-2, part of a programme that seeks to send men to the Moon by 2020. Faced with serious budgetary constraints, the US earlier this year abandoned its Constellation programme to return Americans to the Moon as a prelude to the conquest of Mars.