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April 16, 2018

Building boom transforms North Korea

  • The focus is on high-end projects in prime locations, like Pyongyang or ocean fronts, creating private property for newly affluent North Koreans.
  • By ERIC TALMADGE
    Associated Press

    PYONGYANG, North Korea — Beachfront, five-star hotels? Skyscrapers just blocks from Kim Il Sung Square?

    North Korea is racing forward with major development projects some experts believe are aimed at expanding a market for rented or privately owned real estate to help fortify the finances of Kim Jong Un's regime against the bite of sanctions over its nuclear program.


     
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