Daedong Credit Bank (DCB)
Joint venture commercial bank - majority (70%) foreign owned.
Established December 1995: profitable ever since.
Offers full range of ‘high street’ commercial banking services: to resident & non-resident foreign individuals & companies, JV’s & relief agencies.
A reliable facility for freely repatriating sales proceeds & profits: for all foreign-invested enterprises, including itself
All business is (currently) in hard (foreign) currency: not allowed to service SOE’s (therefore avoids currency risk & variety of real & perceived credit, political & other risks) .
Expatriate General Manager: with full resident status & freedom of movement - contrary to perceptions; this is normal & is available for all foreign-invested JVs.