Abstract ▼ AI-Helper

After the analysis and evaluation of content and characteristics of North Korea"s legislation for their special economic zones, based on the findings, this paper proposed a direction for legislative reform for the development of the KIC, which both Koreas are jointly working towards. Here is a summa...

After the analysis and evaluation of content and characteristics of North Korea"s legislation for their special economic zones, based on the findings, this paper proposed a direction for legislative reform for the development of the KIC, which both Koreas are jointly working towards. Here is a summary of the conditions and the direction of construction of the legal infrastructure in the KIC, factoring in the legislative experiences of former transitional states and the openness of North Korean reform at this stage, as well as the level of legislative cooperation between South and North Korea. First, there needs to be measures to further strengthen the security of investment. Second, the legislative measures need to reflect global standards. Third, business-friendly laws that accommodate to the principles of market economy, including measures that secure business autonomy, must be maintained. Fourth, there needs to be mid-to long-term provisions made in preparation for the legislative integration between South and North Korea. Fifth, there needs to be measures to strengthen the autonomy and legislative powers of governing bodies. Sixth, there is a demand for the realization of an actual constitutional government. Moreover, the direction of legislative reform in the KIC does not differ much from those of previous transitional states, especially from the implications given by China"s SEZ success. Additionally, it is necessary to create a mid-to long-term legislation roadmap for the KIC while referring to China"s precedent, whose legislation eventually extended into the state sphere after experimentation in the SEZ. Moreover, depending on their willingness to divert, North Korea is in a beneficial position where they can make the most of the latecomer"s advantage and minimize their trials and errors. Not only would they be receive legislative support and cooperation from South Korea, but they can also attract international cooperation.

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