Hana Electronics JVC was a 50/50 joint venture between Phoenix Commercial Ventures Ltd and the Trading Department of the DPRK Ministry of Culture.
As a result of irreconcilable differences between the board of Phoenix and the local management, Phoenix Commercial Ventures Ltd terminated its association with Hana Electronics JVC.
Hana was established in May 2003 a year later it began manufacturing and selling DVD and VCD players as well as pressing and selling CDs. When the company first began operations it employed barely a handful of people. Now it employs around 230 people, and has thus become a major employer with significant social responsibilities which it takes very seriously.
Hana have established a distribution network throughout the major cities in the DPRK. Whilst they manufactured and marketed CD’s, they had an exclusive long term contract with the Mansudae Arts Centre, which belongs to the Ministry of Culture, one of the partners in the JV, for 300 works including; movies, karaoke and other music.
Hana is now ranked as one of the top three best performing joint ventures in North Korea, as assessed by the Ministry of Finance. Hana is proud to have introduced a number of firsts, which show the evolution of the DPRK to a more flexible economy:
- Advertising – the Hana logo, together with the company’s telephone number, appear on every product and packing case
- Offering a guarantee – Hana has also introduced a six-month, no questions asked, guarantee on all products
- Distribution System – Hana have gradually established, from a zero base, a distribution system, including sales offices, covering the whole country
Hana moved into its newly constructed headquarters, next to the T’ongil Market, in Q1 2011 and within that building also opened a restaurant (“The Restaurant at Hana”) and leisure facilities (including a swimming pool, sauna, bar and hairdressing salon) in its new building. The restaurant and leisure facilities are open to locals and foreigners alike.
The kitchens that serve the restaurant also provide food for our 230 employees.
Here is a brief video tour of part of the restaurant and leisure facilities:
Here are Young Pioneers’ Photos of Hana Electronics and The Restaurant at Hana: