Following the defeat of Japanese imperialism (1910-1945), North Korea was established on the 9th September 1948. Starting from this date North Korea struggled to build a model socialist state under the guidance of the Korean Workers’ Party, a communist party which was organized according to the Soviet model of organization.
According to “Yonhaps News Agency”,
Groz-Beckert, based in Germany, is set to become the first foreign firm to join the inter-Korean industrial complex in Kaesong since 2008.
Earlier, South Korea approved a plan by the company supplying industrial needles to set up an office in the Kaesong zone, just north of the inter-Korean border.
It came as the South’s Park Geun-hye administration is actively seeking foreign investment in the complex, the fate of which is often uncertain amid tumultuous relations between Seoul and Pyongyang.