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  • KDI Review of the North Korean Economy, March 2021
  • Date March 31, 2021
  • Language Korean
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'Dialogue' of KDI Review of the North Korean Economy for March 2021 discusses on 'North Korean Market II: Major Issues and Different Perspectives'. While the basic aspects of the overall North Korean market were covered in the February issue, the current one looks further into its size, role, and function. In particular, from the perspective of North Korea's planned economy, participants focus on how the interpretation of ‘market’ has changed throughout the Kim Jong Un era and the Covid-19 pandemic. Participants hoped that with more accuracy and diversity in relevant data, researchers will be able to conduct more integrated and meaningful study about North Korea.

'Trends and Analysis' features an article titled, ‘Changes in North Korea-China Relationship during the Covid-19 Pandemic and Biden Era.’ The contributor diagnosed that although the exchanges and cooperation between North Korea and China have been reduced during the coronavirus pandemic, the two have no other choice but to become closer again, since they need each other in the continued US-China tension into the Biden era. Further objective researches are required as to whether the solidification of North Korea-China relationship will act as a positive or negative factor for North Korea's reform and transformation as well as the denuclearization and peace regime on the Korean Peninsula in the future.

In the analysis article, ‘Evaluation of Inter-Korean Energy Trade Potential and Policy Measures for Trade Facilitation,’ contributors pointed out that from a mid- to long-term perspective, North Korea's excessive dependence on China for energy could pose an obstacle to the inter-Korean energy market integration later when the UN sanctions are lifted. In this context, they attempt to measure the potential for energy trade that can be promoted immediately between the two Koreas, and propose inter-Korean energy trade policy measures that can be carried out quickly and effectively ahead of neighboring countries in the new era of inter-Korean economic cooperation.
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Office of Global Economy
Providing Economic Forecast and Macroeconomic Policy Direction, the Groundwork for a Brighter Future

The Department of Macroeconomics is conducting researches on the macro economy and macroeconomic policy, particularly focusing on suggesting the analysis of macroeconomic trends and current status of the economy at home and abroad, the economic forecast, and the policy direction of the macro economy. The Department is also in charge of establishing, sustaining and maintaining various econometric models, based on which it analyses policy effects and develops a long-term economic forecast.

Main Tasks
  • Economic trend analysis, short- and long-term forecast
  • Policy study on macroeconomic management
  • Basic structural analysis on macroeconomic areas
  • Maintenance of multi-sectoral dynamic macroeconomic model
Department of Macroeconomic Policy
  • LEE. Tae Suk

    Director, Division of Analysis and Evaluation

    82-044-550-4725
  • CHO, Byungkoo On leave

    Director and Vice President, Department of North Korean Economy

    82-044-550-4725
  • LEE, Jongkyu

    Fellow

    82-044-550-4725
  • WEE, Hyeseung Dispatched

    Research Associate

    82-044-550-4725
  • NAM, Jinwook On leave

    Specialist

    82-044-550-4725
  • KIM, Seulki

    Research Associate

    82-044-550-4725
  • CHUN, Eunkyung

    Research Associate

    82-044-550-4725
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