North Korea released the full text of its Basic Laws for the Sinuiju Special Administrative Region, Tuesday, which guarantees private assets and inheritance rights. The laws are composed of 101 articles in six sections; politics, economics, culture, basis rights and duties, organizations, and flag and emblem.

They provide for compensation should the government confiscate assets for reasons of national security, and investment into all areas except those that violate the environment and health of the population, or are out of date with regard to technology.

The laws give the SAR its own monetary and financial policy with no limits in importing and exporting foreign currency, and rights to impose taxes and duties.

However, blueprints for construction and travel by sea and air must have the central government's permission.

To become a resident of the region a North Korean has to live there or have a job in the area, a foreigner must live there for seven years with a valid work permit, or be recommended by the chief administrator and ruling council.

North Korean experts said the laws were designed to attract foreign capital, but with certain limitations as opening up the SAR contradicts the basic framework of the North Korean system.

(Kwon Kyung-bok, kkb@chosun.com )