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Wed, February 1, 2023 | 06:51
Which businesses will be hot if North Korea opens its market?
Posted : 2018-06-03 10:19
Updated : 2018-06-03 10:19
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Casey Lartigue Jr., co-founder of the Teach North Korean Refugees Global Education Center, compiled these statements from interviews with refugees studying in TNKR.

Eun-bin, female, escaped to South Korea in 2012

There have already been so many changes when it comes to the summit, so I will just wait and see what will happen. I haven't really thought about being scared, but now that you are asking, I suppose I should be concerned about the way things could turn out.

If there is change in North Korea, then I think the architecture and real estate businesses will be hot. There is a lot of land that is not being used, so people involved in designing and building museums, office buildings and homes will be needed.

Shin-hye, female, escaped to South Korea in 2011

I do believe Trump's negotiation style will force North Korea to change, and I'm hopeful. I have lost my trust in the South Korean government, I moved here and have felt safe, but the South Korean government is so determined to appease North Korea that I don't know what would have happened if not for Trump.

If North Korea opens its economy, then the online market will take off. Real estate will also be big in North Korea, it is now a disaster, a combination of government control from the past and now anything goes culture. North Koreans are so used to evading the government to support themselves that they don't respect the law and regulations.

Kyung-hee, female, escaped to Japan in 2008


I have higher expectations because of Trump, I did not expect anything from Bush or Obama because they were typical politicians. Trump is a real businessman, if he doesn't see a good deal then he won't move. I'm not concerned because I have not identified myself publicly as being from North Korea.

But one of my colleagues has been threatened by a North Korean communist organization in Japan that has become more active lately. They have threatened her through phone calls warning her to halt her activities against North Korea and even threatened a TV station that had been planning a documentary about her.

I'm not optimistic, but if there is change in North Korea, then tourism will be big. My family was wealthy when I was in North Korea because we got into the market early. I got to see a lot of the country when we were traveling around doing business. Many areas of North Korea are preserved, I hope it won't develop so quickly like Korea or Japan have.


EmailCJL@alumni.harvard.edu Article ListMore articles by this reporter
 
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