North Korea's first and only law firm, Hay, Kalb & Associates, will suspend operations, the firm's principal said in a statement today, as the country grows increasingly isolated. The firm is a joint venture between the North Korean state and British-French citizen Michael Hay, who has represented foreign clients in the capital, Pyongyang, for 12 years. Hay said he had made the decision based on "business and geopolitical principles". "This decision has been taken only after lengthy and thorough deliberation and an examination of the continuing deterioration of inter-regional relations pertaining to the Korean peninsula," Hay said in a statement. "It is not unreasonable to assume that no meaningful change or indicator of change in relations shall occur, if at all, until well after the United States Presidential Inauguration, on January 20, 2017," the statement said. North Korea has come under growing diplomatic pressure since its January nuclear test and a long-range rocket launch in February, which led to a new U.N. Security Council resolution in March that tightened sanctions against Pyongyang. The majority of Hay's clients are foreign investors, many of whom have been...
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