N. KOREA TO BUILD NEW INDUSTRIAL COMPLEX

[Anchor Lead]

It has been confirmed for the first time that North Korea is planning to create an industrial complex near the New Yalu River Bridge linking the North's Sinuiju and the Chinese border city of Dandong. The opening of the bridge is expected to further boost economic cooperation between the two allies.

[Pkg]

The New Yalu River Bridge. Across four lanes, large construction trucks are moving back and forth, continuously carrying and unloading soil. Among workers, bulldozers are seen leveling the ground. A new asphalt road linking the New Yalu River Bridge and national highway No.1 was completed in two months, making it easier for the construction trucks to travel. Despite the COVID-19 epidemic, North Korea has been working on the construction for two months. The regime appears to be doing its utmost to complete the construction quickly with high expectations for economic benefits. Pyongyang plans to establish a customs office and an industrial complex measuring one square kilometer near the bridge. The industrial park will employ North Korean workers and process raw materials imported from China. The finished goods will then be exported back to China. The North launched the industrial complex project last October with a plan to complete the groundwork by the end of the year.

[Soundbite] (SOURCE FAMILIAR WITH NORTH KOREAN ISSUES) : "The industrial complex must house a customs office, since it doesn't target the domestic market but will produce products for overseas markets."

Pyongyang expects Chinese businesses to respond positively and make investments. The largest merit of the new industrial complex is low labor cost. A fifth of those given at existing joint ventures between the two sides.

[Soundbite] (SOURCE FAMILIAR WITH NORTH KOREAN ISSUES) : "It is for outsourcing contractors. Some 10,000 Chinese businesses will come if there are no sanctions, given the high labor costs in China."

Analysts believe the reclusive state will seek to overcome its economic difficulties through the new bridge and industrial complex.