22 Dec '11, 11pm

Singapore firms say they see potential in North Korea, but many waiting for situation to stabilise

Singapore firms say they see potential in North Korea, but many waiting for situation to stabilise

The North Korean flag flying at half-mast at the residence of the North Korean Ambassador to Singapore in Joo Chiat Lane yesterday. -- ST PHOTO: RAJ NADARAJAN By Kor Kian Beng Singaporean Quek Chek Lan, 67, blazed the trail when he set up North Korea's first fast-food restaurant in the capital Pyongyang in May 2009, and has expanded his business rapidly since. He now owns three fast-food restaurants - called Samtaesong or 'three big stars' in Korean, and which sell hamburgers, french fries and waffles - as well as six convenience kiosks, a cold room for food storage, and a food-processing plant. But for now, Mr Quek is shelving his expansion plans until a clearer picture of the North's new leadership emerges, following the death of 'Dear Leader' Kim Jong Il last Saturday at age 69. Background story RISK AND REWARD 'It can be quite lucrative, given the first-mover advantage...

Full article: http://www.straitstimes.com/The-Big-Story/The-Big-Story-1...

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