North Korea is reportedly seeking a foreign investor to complete the construction of the hotel.<\/p>\n\n\n\n\n\n\n\n
North Korea.- The North Korean government is reportedly planning to offer rights to operate a casino within an unfinished hotel to any operator willing to finance the remaining construction work. This is according to a Pyongyang resident who spoke to Radio Free Asia. <\/p>\n\n\n\n
The 105-floor Ryugyong Hotel is the tallest building in North Korea at 330 meters. Construction began in 198 and was scheduled to be complete by 1992, but the collapse of the Soviet Union and the subsequent economic crisis in North Korea put the project on hold indefinitely. While the exterior was completed in 2011, a plan to partially open the hotel in 2013 didn’t happen.<\/p>\n\n\n\n
There are currently two casinos in North Korea: one at the Yanggakdo Hotel and one at the Bipa Hotel in the Rason Special Economic Zone. The casinos cater to Chinese tourists. North Korean citizens are not allowed to gamble,<\/p>\n","protected":false},"excerpt":{"rendered":"
North Korea is reportedly seeking a foreign investor to complete the construction of the hotel.<\/p>\n","protected":false},"author":176,"featured_media":21522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"North Korea is reportedly seeking foreign investment to complete the Ryugyong Hotel, offering casino operating rights as an incentive. This initiative aims to attract capital for the long-stalled project, with the proposed casino targeting Chinese tourists, consistent with existing gaming operations in the country.","focusai_entities":"Radio Free Asia","focusai_location":"North Korea, Pyongyang, Rason Special Economic Zone, China","focusai_target_profile":"ceo_executive (0.9), regulator (0.75), compliance_legal (0.9), operator_casino (0.95), payments_fraud_aml (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Licensing & Governance Frameworks?","query":"What are the specific B2B\/B2C licensing requirements and governance frameworks North Korea would implement for a foreign casino operator, particularly concerning capital repatriation and regulatory oversight?"},{"label":"Mitigating Geopolitical Risks?","query":"How would potential foreign investors mitigate the significant geopolitical and sanctions-related risks associated with a large-scale capital investment and ongoing casino operations in North Korea?"}],"footnotes":""},"categories":[28,16338],"tags":[23911,23907],"class_list":["post-777017684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-gambling-regulation","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777017684"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017684\/revisions"}],"predecessor-version":[{"id":777017709,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017684\/revisions\/777017709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21522"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}