North Korea is working towards securing $39m from potential foreign investors for constructing a brewery in Wonsan port city in Kangwon Province.

The proposed brewery is likely to have an annual production capacity of 50 million liters of beer, 20 million liters of draught beer and 30 million liters in plastic bottles, Reuters quoted some documents as saying.

The country has recently announced over 100 projects seeking investments from foreign players for the Wonsan-Kumgang Development Zone, an area where the country’s leader Kim Jong Un has palaces and a summer residence.

Independent consultant helping a Wonsan investment committee seek more than $150m from foreign investers Michael Spavor was quoted by Reuters as saying: "They’re looking at this as a new East Asian business and tourism hub.

"It’s a nice area, it’s on the coast, and it has the same qualities and infrastructure that once made places like Shenzhen and Hong Kong such attractive investment zones."

The country that is under heavy international sanctions for its human rights violations and nuclear program has been trying to increase its participation in foreign markets.

Many Korean cities have been producing their own beers due to poor infrastructure and increase in demand. One of the bestselling beers produced in the country is Taedonggang Beer.

"North Korean beer tastes great and despite the really big demand for it on the east coast, there’s no large-scale brewery in the region capable of generating the supply," added Spavor.