North Korea

North Korea - Is officially known as the Democratic People's Republic of Korea. North Korea is an Asian Country and shares borders with South Korea, China, Russia, The Sea of Japan and Korea Bay. North Korea is the northern half of the Korean Peninsula. Following World War II, Korea was split with the northern half coming under Soviet-sponsored Communist domination. North Korea, one of the world's most centrally directed and least open economies, faces chronic economic problems. Industrial capital stock is nearly beyond repair as a result of years of underinvestment and shortages of spare parts. During the October 2007 summit, South Korea also agreed to develop some of North Korea's infrastructure and natural resources and light industry. Firm political control remains the Communist government's overriding concern, which will likely inhibit the loosening of economic regulations. Risking arrest, imprisonment, and deportation, tens of thousands of North Koreans cross into China to escape famine, economic privation, and political oppression.