North Korea is not one nation that is often heard of in the news. Not everyone is really aware of what is actually going on inside North Korea and only a few aspects come out on the news because most of their operations inside the country are kept private other than their military efforts, and also since people who reside in North Korea do not have unlimited access to the internet so it is very hard for them to communicate with people from outside of the country and no one can just go out from the country, also, very limited people are allowed to actually enter the territory. So what exactly are the kind of businesses present in North Korea and how do businesses there cope without the help of the internet?
Just like every other country, it is just not very evident since North Korea is a very closed country, North Koreans are also interested in doing business. Apparently, although they have very limited access to the internet, they search for their possible business partners and are also looking for investors to invest in North Korean businesses. They use the internet resources that they look for every possible information they can find about their potential investors. As everyone is aware of the political status of North Korea, analysts say that whoever considers doing business in North Korea should be sensitive about asking or saying something about their government, they did not say that potential investors and partners should avoid asking altogether, what they are saying is that, they should just be careful about asking specific questions about the political standing of North Korea.
Like with any other business, investors are very important and since North Koreans are allowing people from other countries to invest on their businesses inside North Korea, and what is most fundamental with business partnerships is trust. These foreign investments and partners have to establish and gain the trust of their North Korean business partners. It is difficult to be partnering with North Koreans for business if they are not residing in North Korea themselves because if they are having issues, it is better for them to be speaking face to face rather than doing it on the phone because those phone calls that North Koreans make are always monitored. North Koreans want to know that you, as a foreign business partner or investor, are sincere about your intentions with working with them.
North Koreans have also had trade relations, although limited, with countries such as China, Pakistan, India, Singapore, and even the US. Although today, India, Singapore, and of course, the US have withdrawn their connections with North Korea. According to Trump news, in fact, ever since President Donald Trump took seat, triggered mainly because of the bomb testings held by North Korea, he has threatened to cut ties with countries still doing business with North Korea. China has always been the largest trading partner of North Korea, but it is as well for the US, and that might be a problem. Trump has already imposed sanctions on several North Korean and Chinese businesses related to America, but it will affect the US economy greatly if President Trump were to absolutely cut ties with China as well. What everyone should know though is that today, even when North Korea chooses to stay a closed country, they are still open to doing business with other foreign countries who are also open to doing business with them.