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Condos, corruption, and compliance

Tom Fox | June 18, 2018

President Trump promised condos on the beaches of sunny North Korea as a part of his negotiations with North Korean dictator Kim Jung Un. While it is not clear when construction on these new vacation getaways will break ground, one of the incentives the President dangled in front of the North Korean dictator was economic incentives, no doubt to enrich the lives of average North Koreans who are not living in gulags. 

One of the issues surrounding this promise is the fact that U.S. companies will then have to go into North Korea and actually do business. Unfortunately, North Korea is one of the most corrupt places on earth, with Transparency International rating the country as “highly-corrupt” with a score of 17 on its 2017 Corrupt Perceptions Index. North Korea ranked at number 171 out of 180 countries listed on the most recent report. All of this means, it will be very risky from an anti-corruption perspective if U.S. companies go in and do business in North Korea. 

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