President, European Business Association, Pyongyang, DPRK; Phoenix Commercial Ventures founding member and director
Areas of Interest: Banking, financial management, business ventures in the DPRK
Nigel Cowie is a director of Phoenix Commercial Ventures Ltd and Chairman of Hana Electronics a joint venture between Phoenix and the Ministry of Culture.
Previously, Nigel spent 10 years in Pyongyang as General Manager of the Daedong Credit Bank. Since 2000, Daedong has been 70% owned and managed by a company run by professional fund managers. The remaining 30% was held by Korea Daesong Bank. The Daedong Credit Bank is the first, by ten years, foreign majority held bank in the DPRK. In August 2011, the Board of Daedong Credit Bank announced that the foreign shareholding in Daedong Credit Bank was sold to a Chinese based corporate entity, the “Nice Group”. The foreign-appointed directors on the Board of Daedong Credit Bank resigned and have no further interests (financial or fiduciary) in the company. Nigel is now heavily involved with a second joint venture company in the DPRK, Hana Electronics JVC. Established in 2003, this company has enjoyed solid commercial success and has recently opened its new headquarters building, together with the expansion of its business lines. Click here for full CV.