China Set to Lease North Korean Islands

By webadmin on 07:57 pm Dec 17, 2010
Category Archive

China is planning to lease two North Korean river islands on its border with the isolated country to establish free-trade zones and tourism, Japan’s Asahi Daily reported on Friday.

China said it would build factories to make beverages and other products, while North Korea would vacate the islands on the Yalu River and relocate the 1,000 households there, but would then provide workers for the factories.

China expects to kick off the project in May after it acquires the rights to use the land for 50 years and continued with talks to extend the lease period to 100 years, the newspaper said, citing unnamed Chinese sources.