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Working Paper
The Economic Reform of North Korea in the Kim Jong Un Era: Status & Evaluation

June 10, 2021

  • Author Moon-Soo Yang
  • Series No. Working Paper June, 2021
  • Language English
PDF
Working Paper
The Economic Reform of North Korea in the Kim Jong Un Era: Status & Evaluation

June 10, 2021

  • Author Moon-Soo Yang
  • Series No. June, 2021
  • Language English
PDF
    Abstract

    Ⅰ. Introduction

    Ⅱ. Conceptual Grounds

    Ⅲ. Economic Reform Measures in Kim Jong Il Era

    Ⅳ. Overview of Economic Reforms in Kim Jong Un Era

    Ⅴ. Evaluation of Economic Reform Measures in the Kim Jong

    Ⅵ. Conclusion

    References
This paper aims to identify major economic reform measures conducted by North Korea in the Kim Jong Un era and evaluate the characteristics, accomplishments, and limitations of the reform policy. After running several pilot programs since 2012, starting 2014, North Korea began to implement the so-called “Our Style Economic Management System” and “Socialist Enterprise Responsibility Management System.” These are characterized by the expansion of the scope of activities officially allowed to conduct in the market and the incorporation of market mechanism into the planning system. The North Korean economy in the Kim Jong Un era saw the dual structure where the planning and market systems exist in parallel being more firmly established. The economic management system in that era shares many characteristics of other economic reforms in socialist countries on the one hand; but on the other hand, North Korea’s economic reform has some characteristics that are different from those of other socialist economies
 
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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.

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  • 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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