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Source: www.asiaecon.org |

NORTH KOREA: ORASCOM FILLS THE VOID


  Orascom, an Egypt-based corporation with a wide array of Investments in the Middle East is penetrating the North Korean market to fill the void after failed negotiations for cooperation between South and North Korea.   Being the leading mobile phone provider in North Africa and the Middle East, Orascom Telecom is setting up a service named Koryolink worth $400 million over the next four years. The company's current focus is to target the capital Pyongyang and spread out to reach other cities elsewhere in a later phase. Orascom Telecom and North Korea's foreign trade bank entered a joint venture to open up Ora Bank as the country's second foreign-invested banking facility right after the mobile service was initiated in mid-December.


Source: www.asiaecon.org |


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