The Taegyong Economic Group
Taegyong Economic Group (TEG) - originally named CPEEC - is one of the main organisations, within the DPRK, responsible for the promotion of foreign investment. Taegyong Economic Group undertakes the promotional activities, both at home and abroad, as a part of its role to develop private sector economic relations with other countries. It guiding principle is that of equality and mutual benefits; based upon the ideals of independence, peace and friendship.
Taegyong Economic Group is engaged in:
-Creating a legal environment that is favourable for foreign investment
-Providing consultancy on foreign investment relations including seminars and forums
-Introducing foreign investors to local organisations, enterprises and companies of the DPRK
Taegyong Economic Group aids foreign invested enterprises with the preparation of their paperwork, submission to the State for screening and approval.
Additionally, it assists foreign invested enterprises with resolving operational issues that arise from daily operations. It aids marketing and provides legal advice on matters of state protection and incentives.
Taegyong Economic Group carries out statistical surveys of all foreign involved businesses at home and abroad, and provides facilities to foreign investors and travelers for entry/exit permit and other formalities.
Taegyong Economic Group is in the process of setting up representative offices abroad, for the purpose of direct interaction and liaison with foreign business communities.
Taegyong Economic Group also participates in priority projects, in the capacity of shareholder/investor, in order to provide the maximum level of protection and security.
Taegyong Economic Group have produced a booklet outlining the investment regulations for those wishing to invest in the DPRK. You can download the English version here Investment Regulations (1.5MB)
Board Structure of Taegyong Economic Group
-Chairman
-Two vice-chairmen
-Secretary General
-Executive Director (Thae Yong Nam of Phoenix Commercial Ventures Ltd)
Departments Within Taegyong Economic Group
-Investment Department
-Screening Department -Law and Survey Department
-PR Department
-Financial Department
-Korea Joint Venture Group (corporate body dealing with Europe and Asia)
-Korea International Joint Venture Corporation (dealing with Japan and Koreans living in Japan)
-Korea Economic Development Corporation (dealing with special economic zones)
Please feel free to contact PCV, via our contact form.
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