We are always interested in stories that reveal what investors—rather than pundits--are thinking about the business climate in North Korea. So we were curious to hear that the Global Supply Chain Council is mounting a North Korea roadshow. Moreover, it appears to be filling up fast.
As the title suggests, the Supply Chain Council is a professional association of supply chain managers, and provides extensive information on all aspects of the logistics and offshore manufacturing business. The trip is heavy on the usual suspects: Juche Tower, the monuments of Pyongyang, the subway, and—if you click through from the first page—the Pueblo, which may not be seen by some as great publicity for the country.
But the trip also involves tours to some major enterprises around Nampo, which are not usually on foreign itineraries, and the promise of meeting foreign businessmen. Among the stops and their descriptions:
- “Chollima Steelworks : A major industry site for the DPRK and the birthplace of the Chollima movement.
- Tae'an Heavy Machine Tool Complex : An enormous complex boasts a number of hangar-sized buildings.
- Glass Factory : Opened in 2005 with heavy Chinese investment and produces glass for domestic market.
- Mineral Water Factory : The only facility producing naturally carbonated bottled water in the country.
- Chonsamri co-operative farm : Farm where the Chonsamri method was developed.
- Daedong Credit Bank : First foreign bank in the DPRK.”
We are not sure whether any of these factories are looking to integrate themselves into global supply chains, or whether they are simply designed to impress; the likely business will be at the Revolutions Exhibition, where visitors will see exhibits of “heavy and light industry in the DPRK.”
The site warns that during the entire five day trip there will no internet, phones, credit cards or ATMs; I can just imagine the ultimate time-sensitive manager—your supply-chain guy—surviving for over one hundred hours without his Blackberry. Nonetheless, we will be curious to hear back from the planners whether the draw is largely curiosity or reveals serious business interest.
