North Korean economic reform
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The North Korean economic reform refers to the program of reform and restructuring of the North Korean economy. Economic reforms have been increasing in the last years, particularly after
Kim Jong-un Kim Jong-un (; , ; born 8 January 1982) is a North Korean politician who has been Supreme Leader of North Korea since 2011 and the leader of the Workers' Party of Korea (WPK) since 2012. He is a son of Kim Jong-il, who was North Korea's sec ...
came to power in 2012.


History

Economic reforms in North Korea has its roots to the 1970s, when North Korean government agencies, provincial governments and military units were unofficially granted permission to establish their own companies. Number of such companies have increased dramatically since the 2000s.


Economic impact

North Korea's economic growth under Kim Jong-un is estimated to be ranging from 1 percent to 5 percent. North Korea expert Andrei Lankov has said that North Korea's real growth rate is 3–4%.


Foreign encouragement

Economic reforms in North Korea has been encouraged by
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
. While visiting
Pyongyang Pyongyang (, , ) is the capital and largest city of North Korea, where it is known as the "Capital of the Revolution". Pyongyang is located on the Taedong River about upstream from its mouth on the Yellow Sea. According to the 2008 populat ...
in June 2019, Chinese
paramount leader Paramount leader () is an informal term for the most important political figure in the People's Republic of China (PRC). The paramount leader typically controls the Chinese Communist Party (CCP) and the People's Liberation Army (PLA), often hol ...
Xi Jinping Xi Jinping ( ; ; ; born 15 June 1953) is a Chinese politician who has served as the general secretary of the Chinese Communist Party (CCP) and chairman of the Central Military Commission (CMC), and thus as the paramount leader of China, ...
said that Kim Jong-un had “initiated a new strategic line of economic development and improving people’s livelihoods, raising socialist construction in the country to a new high tide.”


See also

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Chinese economic reform The Chinese economic reform or reform and opening-up (), known in the West as the opening of China, is the program of economic reforms termed " Socialism with Chinese characteristics" and " socialist market economy" in the People's Republic of ...


References

{{Economy of North Korea Economy of North Korea Economic liberalization