North Koreans yet to completely cease business operations

Kathmandu, November 2

Defying the government’s notice, North Korean business persons are yet to cease their operations in the country.

On September 16, the Department of Industry (DoI) has forwarded letters to the North Korean business owners in Nepal to shut down their enterprises and repatriate their investment by October 31.

Binod Khadka, director at the DoI, informed that the department is, however, yet to receive formal notice from the business operators that they have ceased their operations in the country.

He further said that a DoI team had found that the North Korean enterprises were closed during their recent monitoring. “However, it seems they have not initiated the process of repatriating their investment, for which they would have to approach the Ministry of Finance and the Nepal Rastra Bank,” he added.

According to Khadka, the DoI is planning to hold discussions with line ministries — Ministry of Industry, Commerce and Supply (MoICS), Ministry of Home Affairs, and Ministry of Foreign Affairs (MoFA) — for the next course of action.

“We hope the North Korean business owners will soon send a letter stating they have complied with our earlier instruction and shuttered shops and repatriated their investment.”

North Korean nationals had been operating nine business enterprises in Nepal — two software companies, a hospital and six restaurants. These included Ne-Koryo Hospital in Tanahun district and Himal Chilbo Technical Solutions in Lalitpur district. Similarly, other businesses included Hotel Re Min & Restaurant, Pyongyang Akugyan Nepal, Pyongyang Arirang Restaurant, Yong Bong Chand IT Company, Botonggang Restaurant and Bar, Himalayan Soje Restaurant and Minas Restaurant and Bar in Kathmandu district.

On June 15, expressing concern over growing business activities of North Koreans in Nepal, the United States had asked the government not to entertain North Koreans in the country stating that Nepal as a member of the UN should respect the decision taken by the global body to impose sanctions on the country.

On July 1, MoFA had forwarded the report of UN resolution 2397 related to North Korean sanctions to the MoICS and asked the department to take appropriate decisions on the matter.

 

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