Perhaps tired of bad press, BAT is making “purely commercial decision” in selling it’s 60 percent share to a Singapore-based company:

British American Tobacco is pulling out of North Korea, but insisted the move had nothing to do with political pressure.

The world’s second largest cigarette group, whose brands include Lucky Strike, Kent and Dunhill, said it had agreed to sell its 60% share in Taesong BAT, its joint venture in Pyongyang with the Korea Sogyong Chonyonmul Trading Operation, a state-owned company.

BAT is selling the stake to SUTL, a Singapore-based trading group that invests in business ventures in South East Asia. The price has not been agreed yet but will be small in relation to the group. The sale is expected to be completed later this year.

Under the terms of the agreement, BAT will license its Craven A brand to the Singaporean investment group for manufacture and sale in the North Korean domestic market.

[. . .]

BAT, whose deputy chairman is former chancellor Kenneth Clarke, has been operating the factory in North Korea since 2001. It opened the plant shortly before the regime was denounced by US President George W Bush as part of the “axis of evil”, and despite concerns over the country’s human rights record.

[. . .]

The company has had a difficult relationship with pressure groups and the British government over its involvement with controversial regimes. In 2003 it was forced to pull out of Burma, after a year-long campaign waged by human rights groups and pressure from the UK government. BAT was the last UK multinational to pull out of Burma.

So tobacco products will still be produced there, meaning North Korea will still have cover for it’s tobacco counterfeiting operations.

Also, check out the “tobacco” category at NK Econ Watch.