"North Korea has the cheapest labor in the world, less than half of China's (rates)," said Lim. "Foreign investors can manufacture goods in North Korea and export them to China."
Indonesia, meanwhile, may be able to provide guidance on how North Korea can exploit mineral resources that the North Korea Resources Institute in Seoul estimates are worth more than $10 trillion, analysts said.
Indonesia has had strong ties with North Korea since 1964. In 1965, when late North Korean founder Kim Il Sung paid Indonesia a visit, President Sukarno presented him with an orchid dubbed the Kimilsungia.
On Tuesday, North Korean and Indonesian officials signed an agreement to share news stories, photos, video and TV footage, and eventually swap journalists, Indonesia's Foreign Ministry said in a statement.
Associated Press writers Harald Olsen in Seoul and Alex Kennedy in Singapore contributed to this report.
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