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Land lease and mortgage of land in the DPRK Univ.-Prof. Dr. Horst Hammen

Land lease and mortgage of land in the DPRK Univ.-Prof. Dr. Horst Hammen Professor of Civil Law, Commercial and Corporate Law, German and European banking and capital markets law Justus-Liebig-University, Giessen. I. Economic conditions.

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Land lease and mortgage of land in the DPRK Univ.-Prof. Dr. Horst Hammen

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  1. Land lease and mortgage of land in the DPRK Univ.-Prof. Dr. Horst Hammen Professor of Civil Law, Commercial and Corporate Law, German and European banking and capital markets law Justus-Liebig-University, Giessen Repetitorium Handelsrecht | Christian Horz

  2. I. Economic conditions North Korea has a socialist planned economy. The GDP is probably between 25 and 30 billion USD. The infrastructure is acceptable in the Pyongyang-Nampho area. Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  3. Repetitorium Handelsrecht | Christian Horz

  4. I. Economic conditions North Korea has a socialist planned economy. The GDP is probably between 25 and 30 billion USD. The infrastructure is acceptable in the Pyongyang-Nampho area. The school education is relatively good. In foreign language high school, English is taught as a first foreign language and German as a second in the future. Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  5. II. Foreign Investment Policy of the DPRK Promotion of foreign investments in the DPRK in the areas of industry, agriculture, construction, transport, communication, science, technology, tourism, commerce, financial services Incentives: Reduction of incometax, profitrepatriationguarantee Settling in Special DevelopementZones [SDZs] Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  6. II. Foreign Investment Policy of the DPRK Promotion of foreign investments in the DPRK in the areas of industry, agriculture, construction, transport, communication, science, technology, tourism, commerce, financial services Incentives: Reduction of incometax, profitrepatriationguarantee Settling in Special DevelopementZones [SDZs] Types of Business: • Contractual Joint Venture • Equity Joint Venture • WhollyForeign-owned Enterprises (only in some SDZs) Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  7. III. Example: Jindoexportprocessingzone - Location: Ryongnam-ri, WandoDistrict, Nampho Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  8. III. Example: Jindoexportprocessingzone - Location: Ryongnam-ri, WandoDistrict, Nampho Area of Development: 1.8 km² Importingrawmaterialsfortheproduction of light industry and chemicalgoods and exportingthem - Joint development or solely a foreignenterprise Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  9. IV. Legal frameworkforforeigninvestments Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  10. IV. Legal frameworkforforeigninvestments - Art. 37 Constitution of the DPRK - Law on foreigninvestments - Law on whollyforeign-ownedenterprises - Taxation Law forforeign-investedbusinesses - Labour lawforforeign-investedbusinesses - Law on land lease Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  11. V. Law of the DPRK on land lease - Art. 21, 22 Constitution of the DPRK - Personal ownership of landis not allowed - Land lease toforeigninvestors - Contract of land lease - Limit of 50 years - Rental charge plus cost of landdevelopement - Annual feeforuse of theland - Transfer therighttouseland - Return of landuseright Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

  12. VI. Mortgage of the right to use land - Art. 21 of the land lease law - Applicable only to foreign private dealings - Object of land mortgage is the right to use land - Structures on the land shall also be mortgaged Land lease and mortgage of land in the DPRK | Prof. Dr. Horst Hammen

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