[K SCIENCE] Startup Classes in North Korea?

Does North Korea have any educational programs for startups?

Yes, it does.

A couple of phrases which do not match well with the image of North Korea are seen on the whiteboard in a lecture room in Pyongyang.

Some of the phrases on the whiteboard read, "Opportunity Cost" and "Cash Flow".

This is a class arranged by Choson Exchange, a Singapore-registered social enterprise for startups.

Choson Exchange, that focuses on economic policy, business and legal training for young North Koreans in the reclusive state, is known to have educated some 1,300 North Koreans in Pyongyang and other major North Korean cities since 2007.

Choson Exchange's founder and CEO Geoffrey See who has visited North Korea more than 40 times says he now can see significant changes in the closed economy.

[Geoffrey See, CEO, Choson Exchange]
"There is a lot more interest and focus on economic development (in North Korea). I think the ideas to keep up wanting to accept and try the test out has become much larger."

With the spread of smartphones in the country, many North Koreans are interested in startups, bringing in some businesses that are similar to startups.