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Update On HBOIL's Efforts In North Korea

Back in July I wrote about a small Mongolian company that was pursuing a deal to take over a refining complex in North Korea. BDSEC, the largest brokerage in Mongolia just did a site visit with the company and the government of North Korea and published their report. You can access it here.

One of the items I noted was the existence of the economic zones and how much money had poured into them from China, Russia, and even South Korea. A very interesting read. Mongolia does not have the same issues that the West has with North Korea. In fact there are many North Koreans living and working in Mongolia. this relationship can be traced back to when Mongolia was in the Soviet sphere of influence. Over time I think many Mongolian company's will do well getting into North Korea as it inevitably opens up and liberalizes its economy.