Foreign Firm North Korea closes

Foreign Firm North Korea closes

World August 2, 2016 07:33

seoul - The first and only foreign law firm in North Korea closes its doors. The British-French founder Michael Hay passes after twelve years in the towel to 'business and geopolitical' reasons. Deteriorating relations between North Korea and the rest of the world have things not done well.

'Penalties legitimate foreign investors hurt,' Hay refers to the sanctions in force against North Korea. The UN Security sharpness earlier this year the sanctions continue, because the country in defiance of previous resolutions has tested nuclear weapons and missiles. The firm Hay, Kalb amp; Associates, a joint venture between Hay and the North Korean state, it must be true of foreign customers.

Tensions with neighboring South Korea for a second reason. Hay fears that the proportions will not improve anyway region until after the inauguration of the next US president in January next year. Hoping for better times, he does hold an office in Pyongyang, but things are starting August 14 silent.
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