How the famine years prompted North Korea's first real enterprise reforms



Features How the famine years prompted North Korea’s first real enterprise reforms Economic crisis saw some companies turn to financial self-reliance - with little success Peter Ward July 5, 2018 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON by nknews_hq on 2018-01-14 23:47:55 Although largely unnoticed and still basically unknown outside the country, the early 1990s witnessed a revolution in the way North Korean state-owned enterprises (SOEs) were managed. The North Koreans emulated China and went far further, before they even had a name for what they were doing: “Grasping the big, letting go of the small” (抓大放小). Back in 1997, the Chinese government released ,control over a large number of smaller SOEs, privatizing them, while maintaining state control and support for enterprises in strategic industries – heavy industry, defense, telecommunications, transport et al. Smaller SOEs were privatized and © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update & Podcast Updates Start your day with the North Korea stories that matter most – as selected by Trending

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How the famine years prompted North Korea’s first real enterprise reforms

Economic crisis saw some companies turn to financial self-reliance - with little success

Peter Ward July 5, 2018

How the famine years prompted North Korea’s first real enterprise reforms

by nknews_hq on 2018-01-14 23:47:55

Although largely unnoticed and still basically unknown outside the country, the early 1990s witnessed a revolution in the way North Korean state-owned enterprises (SOEs) were managed. The North Koreans emulated China and went far further, before they even had a name for what they were doing: “Grasping the big, letting go of the small” (抓大放小).

Back in 1997, the Chinese government released ,control over a large number of smaller SOEs, privatizing them, while maintaining state control and support for enterprises in strategic industries – heavy industry, defense, telecommunications, transport et al.

Smaller SOEs were privatized and

How the famine years prompted North Korea’s first real enterprise reforms

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