Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Sharing Economy International shares pop on plans to set up North Korean website

Wednesday, June 13, 2018 6:17
% of readers think this story is Fact. Add your two cents.

The Chinese rental business Sharing Economy International Inc (NASDAQ:SEII) today announced that it is set to introduce an online website platform in North Korea after entering into a license agreement with Ecrent Capital Holdings.

Sharing Economy, which is based in China’s Jiangsu Province, will pay the Hong Kong-based Ecrent a maximum of US$1mln for its help in setting up shop in North Korea as part of a licensing agreement, which expires in December of 2023.

In the wake of the recent summit between President Donald Trump and North Korea’s leader Kim Jong-un, Tin Chi Chan, chief executive of Sharing Economy International, is eager to introduce his company’s online rental business in North Korea.

“We strongly believe that the potential opening of the North Korean market provides a unique opportunity for us to develop both online and offline sharing economy business models in the region that would greatly benefit the North Korean people,” said Tin Chi Chan in a statement.

“Given the limited means of the population, the opportunity to share products and services instead of purchasing them outright can lower the costs incurred and enhance the quality of life of North Korean citizens,” he added.

Sharing Economy develops online platforms and rental business partnerships. Ecrent also specializes in an array of rental businesses, ranging from tools to transport and professional services.

Investors sent Sharing Economy’s shares up by close to 22% in pre-market trade.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question Razz Sad Evil Exclaim Smile Redface Biggrin Surprised Eek Confused Cool LOL Mad Twisted Rolleyes Wink Idea Arrow Neutral Cry Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.