A Capitalist in North Korea: My Seven Years in the Hermit Kingdom

A Capitalist in North Korea: My Seven Years in the Hermit Kingdom

Felix Abt

Nonfiction / Business / Memoir

Business in North Korea: a paradoxical and fascinating situation is interpreted by a true insider. In 2002, the Swiss-Swedish power company ABB appointed Felix Abt its country director for North Korea. The Swiss Entrepreneur lived and worked in North Korea for seven years, one of the few foreign businessmen there. After the experience, Abt felt compelled to write A Capitalist in North Korea to describe the multifaceted society he encountered. North Korea, at the time, was heavily sanctioned by the UN, which made it extremely difficult to do business. Yet, he discovered that it was a place where plastic surgery and South Korean TV dramas were wildly popular and where he rarely needed to walk more than a block to grab a quick hamburger. He was closely monitored, and once faced accusations of spying, yet he learned that young North Koreans are hopeful - signing up for business courses in anticipation of a brighter, more open, future. In A Capitalist in North Korea, Abt shares these and many other unusual facts and insights about one of the world's most secretive nations. Author Felix Abt is a politically neutral businessman and, therefore, does not share partisan views about North Korea. He is, however, critical of unfair North Korea reporting and does what he can to contribute to a more objective view of a country he knows much better than the journalists and bloggers writing about it. Abt is a former investor at several legitimate Joint Venture companies in North Korea which are now being driven into bankruptcy by U.N. "sanctions."
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A Capitalist in North Korea

A Capitalist in North Korea

Felix Abt

Nonfiction / Business / Memoir

A Capitalist in North Korea: My Seven Years in the Hermit Kingdom is the tell-all memoir of Felix Abt, a Swiss entrepreneur who worked in the world’s most isolated, “Stalinist" fortress over the past decade. Abt offers in-depth portraits of the thrills, adventures, hurdles and even accusations of spying while working behind the world’s last Iron Curtain. He finds a side of North Korea that is far from sinister—one that has been lost in the flood of accounts from defectors, journalists, activists, and politicians who have pummeled the nation into isolation.

Few outsiders have been granted such wide access to the mysterious hermit kingdom. Abt visited seven out of nine provinces and more than two dozen cities, interviewing hundreds of high-ranking communist officials and ordinary North Koreans. He became a figurehead in bringing capitalism to North Korea through all sorts of whimsical and unexpected projects: the Pyongyang Business School, the European Business Association in Pyongyang, and ventures in pharmaceuticals, precious metal extraction, and bottled water.

Did you know, for instance, that plastic surgery and South Korean drama shows are all the rage among the women of Pyongyang? That the capital offers a line-up of decent hamburger joints? That young North Koreans are eagerly signing up for business courses in preparation for market reforms? And that United Nations sanctions are the biggest obstacle to doing legitimate business in the DPRK? With more than 250 photographs taken by the author, A Capitalist in North Korea offers an account of the unknown aspects of North Korea, looking beyond tales of famine and suffering.
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