News

FOR IMMEDIATE RELEASE:

Ken Frost Joins The Board of Sinji JVC

Pyongyang/London, April 8th 2008

Phoenix Commercial Ventures Ltd is pleased to announce that Ken Frost MA FCA FIPFM, a director of Phoenix Commercial Ventures Ltd, has joined the board of Sinji JVC as an executive director.

Sinji JVC is a 50/50 joint venture between Phoenix Commercial Ventures Ltd and the Korea Committee for the Promotion of External Economic Cooperation (CPEEC).

Sinji (pronounced "shinjee") was a lieutenant of Tangun, the first king of Korea in around 3,000 BC, and his mission was to relay communications between the king and his people. In the absence of a written script, he invented one. Sinji dates from ancient history, all Koreans will recognise the name. Sinji symbolises the human intellectual, and he can be considered to be the original Korean IT developer.



Nigel Cowie, a director of Phoenix Commercial Ventures Ltd, is Chairman of the board of Sinji. Thae Yong Nam, a director of Phoenix Commercial Ventures Ltd, is also a director of Sinji.

Sinji's main areas of operations are:

- Retail (consumer electronics, household necessities etc)
- Software
- Artificial flower manufacturing for export

Ken is based in London and is a chartered accountant with over 20 years' international experience of FMCG industries, consumer electronics, rough diamond distribution and the internet.

Ken is based in London and is a chartered accountant with over 20 years' international experience of FMCG industries, consumer electronics, rough diamond distribution and the internet.

He has worked in; KPMG, Philips Electronics, De Beers and in addition to being on the board of Phoenix, Sinji and Hana Electronics JVC he runs his own internet company.

The Board of Phoenix Commercial Ventures Ltd would like to congratulate Ken on his appointment.
 
For additional information, contact Phoenix Commercial Ventures Ltd.

About Phoenix Commercial Ventures Ltd

Phoenix Commercial Ventures Ltd offers investors business and investment opportunities in the Democratic People's Republic of Korea (DPRK), enabling them to take advantage of the economic reforms that are taking place there.

Phoenix Commercial Ventures Ltd maintains an office in Pyongyang, almost the only European company to do so, and operates with the following specific aims:

● Identify commercially viable investment projects in the DPRK, on a case by case basis

● Identify reliable local partners for all forms of business in the DPRK, either trade or investment

● Seek overseas investment sources for such projects

● Minimise the risk in such projects, by taking responsibility for supervision of the local set-up procedures and management of the projects

CONTACT INFORMATION:

Phoenix Commercial Ventures Ltd office address in Pyongyang is:

Phoenix Commercial Ventures Limited
No. 901
International House of Culture
Ryonhwa-dong
Central District
Pyongyang
Democratic People's Republic of Korea

Phone

Switchboard  +850 2 381 2228/9 ext 401
Direct line     +850 2 381 4866
Mobile          +850 193 801 8400*
*Note, the mobile number may not be obtainable from certain countries (eg UK and Hong Kong).

London Contact

Direct line     +44 208 681 1413

Corporate Website www.pcvltd.com

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