PYONGYANG - The Democratic People's Republic of Korea (DPRK) will establish a special zone for international tours at Mt. Kumgang, the official KCNA news agency said Friday.

KCNA said, according to a decree issued by the Presidium of the DPRK Supreme People's Assembly, the special zone in Kangwon Province would include the Mt. Kumgang township and some areas of Onjong-ri in Kosong County, Lagoon Samil, Sea Kumgang area, Inner Kumgang area of Kumgang County and some areas of Thongchon County.

"DPRK sovereignty will be exercised over the zone," the decree said.

The DPRK would encourage free investment in the development of the special zone by corporate bodies, individuals and other economic bodies and protect by law the invested capital, properties, income and other profits to be gained through business, the KCNA reported.

The Central Tourist Guidance Agency would take measures to increase new tourist destinations, depending on the progress made in the development of the special zone, the report said.

On April 8, the DPRK canceled South Korean Hyundai Group's exclusive rights to operate tourism at Mt. Kumgang.

Mt. Kumgang tour programs were launched in 1998, but were suspended in 2008 after a female South Korean tourist was shot dead there.