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N. Korea deal would barter major mines for China-funded high-speed rail network

Special to WorldTribune.com

By Lee Jong-Heon, East-Asia-Intel.com

SEOUL — North Korea has offered China rights to develop seven major mines in return for its economic assistance in building high-speed rail links connecting its capital Pyongyang with the southern border city of Kaesong and the northeast border city of Shinuiju, a diplomatic source said.

Shipping time from South Korea to Europe could be cut in half by rail links through North Korea and Russia.

Shipping time from South Korea to Europe could be cut in half by rail links through North Korea and Russia.

North Korea plans to invite officials from China’s state-run enterprise and a Hong Kong-based firm to sign the deal in Pyongyang, the source said.

The unidentified Chinese state firm was said to have invested $2 billion in the North’s Rason Economic and Trade Zone bordering China and Russia.

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