US Korea Institute

Friday May 22nd 2015
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Posts Tagged ‘economy’

North Korea Building New Transport Corridor and Border Crossing

North Korea Building New Transport Corridor and Border Crossing

North Korea Building New Transport Corridor and Border Crossing While observers have focused attention on road improvements along the DPRK’s east and west coasts in Rason and Sinuiju, since 2011, the DPRK has been constructing a new highway segment linking Huichon to Manpho, where a new border crossing is under construction. This new road and [...]

The North Korean Budget Report 2015: Ten Observations

The North Korean Budget Report 2015: Ten Observations

On April 9, 2015, the Supreme People’s Assembly (SPA), North Korea’s parliament, met for its annual spring session. As usual, the Prime Minister gave an overview of the major economic achievements of the past year and the tasks ahead, and the Minister of Finance reported on the state budget for the previous and current years. Given the lack [...]

The Third Session of 13th SPA: Business as Usual

The Third Session of 13th SPA: Business as Usual

The third session of the 13th Supreme People’s Assembly (SPA), held in Pyongyang on April 9, 2015, was a routine development that followed the customary procedures and produced the expected legislative outcomes. The parliamentary theater was a political non-event underscoring the fact that North Korea’s political system is stable, Kim Jong Un [...]

Dilemmas in Financial Engagement with North Korea

Dilemmas in Financial Engagement with North Korea

Over the past few months, there have been a number of important developments concerning North Korea’s external finances. In early December 2014, North Korea announced that the law governing wages for workers at the Kaesong Industrial Complex had been revised, removing the upper limit without consultation with South Korean authorities. In [...]

DPRK Agricultural Policy: Chinese-Style Reform or Muddling Towards Autonomy?

DPRK Agricultural Policy: Chinese-Style Reform or Muddling Towards Autonomy?

For DPRK economy watchers, the last year has been relatively quiet regarding the agricultural sector. Aside from a landmark conference for sub work team leaders in February, and the annual weather crisis (low rainfall in April and midsummer), there was little news. Yet it appears that policy modifications announced in previous years, and received [...]

North Korea’s Expansion of Molybdenum Production

North Korea’s Expansion of Molybdenum Production

Summary North Korea’s expansion of the March 5 Youth Mine—a showcase facility intended to produce non-ferrous metals encompassing almost 2,500 acres near the Chinese border—began in 2008 and culminated in summer 2014 with the completion of a molybdenum production facility. The factory represents a notable expansion in Pyongyang’s [...]

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Credit for photo of young North Korean girl: T.M. All rights reserved, used with permission.