North Korea: North Korean Government seeking foreign investors for building new brewery in Wonsan port city

The North Korean Government is seeking potential foreign investors to support the construction of a new $39 mln brewery in Wonsan port city in Kangwon Province, The Drinks Business Review reported on August 11.

The investment is a part of the North Korean president Kim Jong Un's plans to develop more than 100 new separate projects in an effort to turn the Wonsan-Kumgang Development Zone into an international tourism hub.

The Wonsan investment committee has reportedly secured more than $150 mln in foreign financing to fund the project development.

The brewery is designed to produce 50 million litres of beer including 20 million litres of draught beer and 30 million litres in plastic bottles, annually, according to the documents acquired by Reuters.

Independent consultant supporting Wonsan investment committee Michael Spavor was quoted as saying: "North Korean beer tastes great and despite the really big demand for it on the east coast, there's no large-scale brewery in the region capable of generating the supply."

The decision to build new brewery comes as a result of rising demand and poor infrastructure.

The country's largest beer production factory, Taedonggang Beer, is currently using old UK-manufactured equipment.

12 August, 2015