The purpose of this study is addressing the process of developing industrial complex in North Korea, especially in Gaeseong. The Gaeseong Industrial Complex(GIC) is the first project which is completed in North Korea by South Korean company. LH, the main developer of the project successfully made the various procedures, master planning, land acquiring, developing, attracting investment, managing SOC, for making the industrial complex competitive using its own know-how and experiences in South Korea. The New development experience of LH in Gaeseong Industrial Complex case would indicate various implications to us for making another developing project in North Korea.