Capitalism lessons in Pyongyang

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U.S. citizen Park Chan-mo says change is underway in North Korea's Pyongyang.

Park founded the Pyongyang University of Science and Technology, the only private tertiary school. Although it's only for males.

Speaking to Reuters in Seoul, Park shows videos he took in Pyongyang of students dancing in the school.

He said International Finance and Management Studies is a course that is highly popular among students.

(SOUNDBITE) (Korean) CHANCELLOR OF THE PYONGYANG UNIVERSITY OF SCIENCE AND TECHNOLOGY, PARK CHAN-MO, SAYING:

"I think the class (International Finance and Management Studies) is very popular. Maybe it is because the head of the department, who is from Seoul National University and studied in Canada, told students in a financial engineering seminar: 'If you do this, you can make lots of money'."

Park is based out of Seoul where his family lives, but has been to Pyongyang more than 50 times.

He said he spotted changes in the country in a recent visit.

(SOUNDBITE) (Korean) CHANCELLOR OF THE PYONGYANG UNIVERSITY OF SCIENCE AND TECHNOLOGY, PARK CHAN-MO, SAYING:

"When I took the subway on May 1, I was allowed to film freely with my video camera. In the past, even still cameras were prohibited. I find that a big change."

The 77-year-old Park said he hopes his 370 North Korean students will use the knowledge to further make changes in their economy.

Sophia Soo, Reuters.