Cairo – Mubasher: Egyptian businessman Naguib Sawiris has said that he has no plans to abandon his investments in North Korea’s single telecom operator, Koryolink.
Sawiris’ investments in North Korea reached $250 million and have nothing to do with politics, Sawiris told CNBC, noting that Egypt's business relationship with North Korea goes back several years.
It would be better to avoid misguided or false threats against North Korea, the founder of Orascom Telecom Media and Technology Holding (OTMT) added.
"I believed I've extended a good service to the innocent people of North Korea. […] They are allowed to have the simplest services that everybody in the west has. […] As an investor, I obey by all UN resolutions making sure we're not violating any sanctions, [or] any rules,” he continued.
Koryolink, the single telecom operator in North Korea, is a joint venture between OTMT and state-owned Korea Post and Telecommunications Corporation (KPTC).
