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Investment environment in Rason Economic and Trade Zone

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Management Committee of Rason Economic and Trade Zone

Investment environment in Rason Economic and Trade Zone >> Finance, education and culture

An independent financial and monetary system has been established in the Zone to provide investors with advanced monetary environment.

There are the Rason Branch of the Central Bank of the DPRK which is in charge of execution of financial policy and supervision and control of financial institutions; the Golden Triangle Bank of the DPRK and the Sonbong Bank, Rason Municipality of the DPRK, local commercial banks; the Tumangang Bank, the Eastern First Bank, the Zhonghua Commercial Bank and the Rason Development Finance Bank, foreign-invested commercial banks.

According to the DPRK Law on the Rason Economic and Trade Zone, the Korean Won or a stipulated currency is used as a circulating currency and a settlement currency in the Zone.

The scale of settlement is decided without restrictions in line with the demand of investors for service and the contracts and agreements between the commercial banks in the Zone.

In the Zone there are tens of compulsory educational establishments, and such institutions of higher education as Rajin University of Marine Transport, Sonbong Agricultural University and Rajin College of Commerce.

The general technical and cultural level of residents in the Zone is very high.

The Zone has scores of medical institutions including the Rason Municipal People’s Hospital for free service of its residents.

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