After suspension of Keumgangsan tour, North Korea has enacted the Law of International Keumgangsan Tourism District in order to develop Keumgangsan area into international tour block. North Korea intended to invest more than 10 billion dollars into the area in order to invite more than 10 million tourists. For success of the project, North Korea should have legal system to induce foreign capital. However in the Law of International Keumgangsan Tourism District, legal protection on the foreign capital is not sufficient, wherefore the law should be revised to adequately protect foreign capital. North Korea should strictly protect personal safety of tourists. In the Law there in no articles about the protection of tourists’ safety. It is advisable for North Korea to establish the articles about protection of tourists’ safety, whereby their internationally damaged reputation due to murder of tourist committed by North Korean soldier would be recovered. In those articles, no application of North Korean Criminal Law, right of tourists for consular assistance, right to communicate with family, an arrest with warrant, prohibition of torture etc should be detailedly decribed. North Korth should prepare an articles in the Law to protect properties invested by foreign capital in the Keumgangsan Area. The measure of freeze and confiscation recently taken by North Korea against real estates owned by Hyundai-Asan and South Korean Government is illegal and not helpful for the development of Keumgangsan Area. North Korea should draw back the measure of freeze and confiscation, whereby their trust in international society be recovered. For the smooth operation of Keungangsan Tourism District, it is necessary for North Korea to prepare reasonable dispute settlement procedure in th Law. Between South and North Korea there are several agreements to settle disputes through South-North Joint Committee or South-North Commercial Arbitrary Committee. However detailed practical procedures to settle the disputes are not yet prepared. It is now advisable to prepare the detailed settlement procedure in the Law and furthermore to compulsory submit to International Commercial Arbitary Court or International Judicial Court, when not settled by cooperation and arbitration among the concerned parties.