Coca-Cola, KFC to Begin Business in N. Korea

North Korea has agreed to let Coca-Cola and Kentucky Fried Chicken (KFC) to open branches in Pyongyang after 10 company officials visited Pyongyang from July 5-9, according to various news reports.

The visit came at the invitation of the North’s Korea Taepung International Investment Group, an official government channel created to attract foreign investment.

The U.S. firms will open branches as early as September, according to sources at the companies.

North Korea’s effort to bring in symbols of capitalism and American culture is seen as part of its recent move to revitalize its failed economy by opening to the outside world.

Pyongyang has also agreed to let Associated Press open a permanent bureau in the capital and has signed a video supply agreement with Thomson Reuters.