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  • KDI Review of the North Korean Economy, September 2021
  • Date September 30, 2021
  • Language Korean
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The biggest obstacle to the North Korean economy of today is the shortage of energy supply. Now that international sanctions on crude oil supply to North Korea are fully implemented, North Korea's energy situation is drawing attention. September’s 'Dialogue' invited Dr. Kim Kyung-Sul at the Korea Energy Economics Institute to look into the history and environment of North Korea's energy sector, changes in the energy economy during economic crisis in the 1990s, related policies and the current state of national energy management, and furthermore, the importance of energy cooperation in the fields of inter-Korean economic cooperation and global economic cooperation with North Korea.

The monograph, “Determinants of Local Economy Level and the Effects of Sanctions in the Kim Jong-un Era: Analysis Based on Nighttime Satellite Imagery,” conducted empirical analysis using satellite imagery and various spatial data, and found that in terms of local economy, market and trade are essential contributing factors to the North Korean economy in the Kim Jong Un era. The North Korean Economic Research Forum held in September interpreted what lies behind China's toughened policy towards the US, despite rapidly changing internal circumstances, and discussed the current situation and the implications of China's foreign policy on the Korean Peninsula and North Korea issues. “Corporate Management in North Korea through Bank Payment Methods” (Economic Materials) intends to help better understanding of the actual operation of North Korean companies by analyzing various payment methods and systems.
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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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