Untapped Territory

Event Description:

The well-known American investor Jim Rogers says: “I’m very excited about North Korea. If
I could put all of my money into North Korea, I would. Massive changes are taking place
there”.

It is now the time to explore business opportunities with North Korea (also known as DPRK,
Democratic People’s Republic of Korea). North Korean state media reports suggest that the
economic development strategy of 2017 will be more heavily focused on expanding the light
industry and agriculture. This offers business opportunities for foreign companies. Despite the
political tensions, North Korea finds itself in a new era of international economic cooperation,
and it especially welcomes business with Europe. It is now an interesting time to take a closer
look at trade and investment-related issues, especially since doing business with North Korea
is now less complicated than it was in the past. There are several sectors, including renewable
energy, garments, shipbuilding, agro-business, fishing, horticulture, logistics, tourism,
Information Technology, animation, computer games, etc can be considered for trade and
investment. North Korea is competing with other Asian countries by offering skilled labour at
low monthly wages. In particular firms with production facilities in China, where costs have
been rising fast, are investigating alternative options in North Korea. It mainly exports mineral
fuels, ores slag, zinc, fish, iron, steel, electrical equipment, etc .

The International Korean Business Centre (IKBC) is the government’s main agency led by
king Kim Jong-un and a one-stop shop for international companies or investors wishing to
engage in business in North Korea.

Task in Hand:
Assuming that the doors of business are open, you as an entrepreneur have to propose a
business plan for your benefit as well as the upliftment of society and fully utilize the known
resources North Korea possesses. Keep in mind the basic political, legal, and economic
restrictions our task is to come up with a business plan. You will be pitching to the same agency
focusing on outshining North Korea’s economy with your business idea.

Note- When the nation approves, their funding is approved.

Deliverables:
Any deliverable that you believe is suitable for the task including the following but not
restricted to:
● Executive Summary
● Operational Plan
● Feasibility Analysis
● Marketing (Conventional and Unconventional)
● Finances (Allocations and benefits to the government for giving the funds)
*Any extra deliverables/creatives are welcome.

TIME -
Duration of preparation -1 hour
Duration for presentation 10 minutes
RUBRICS -
Business Plan
PPT
Finances
Marketing
Feasibility
Rebuttals