October 02, 2022


Peter Ward

Peter Ward is a writer and researcher focusing on the North Korean economy, as well as a PhD candidate at the University of Vienna.


Kim Jong Un sets ambitious economic goals but has no real plan to achieve them

In latest speech, North Korean leader doubles down on decades-old proposals that have failed to fix incentive problems

Peter WardPeter WardSeptember 13, 2022

The limits to tyranny: Why Kim Jong Un doesn’t actually have absolute power

A range of factors constrain the North Korean leader in practice, despite his supreme authority in principle

Peter WardPeter WardAugust 29, 2022

Why South Korea’s powerful economy is still considered a developing market

Status contributes to undervalued stocks, but Seoul has shown little interest in required reforms

Peter WardPeter WardAugust 22, 2022

Why are foreign exchange rates soaring in North Korea?

Global inflation, signs of looming food shortages may be driving forex market in DPRK

Peter WardPeter WardAugust 19, 2022

The flaws in the Bank of Korea’s estimates of North Korean economic activity

Questionable assumptions underlie researchers’ methods and findings, as DPRK economy remains a statistical black hole

Peter WardPeter WardAugust 10, 2022

How Kim Jong Un created space for North Korean firms to set prices — with limits

Documents show DPRK leader reinstated agreed price system his father rolled back but stopped short of true free market

Peter WardPeter WardAugust 2, 2022

How North Korean businesses skirted state-set price controls to survive

Collapse of Soviet Union led Pyongyang to create markets for enterprises to trade, but a backlash rolled back reforms

Peter WardPeter WardJuly 21, 2022

What the Bank of Korea’s rate spike means for the South Korean economy

Central bank seeks to curb inflation, but rate increase will likely be painful for many firms and households

Peter WardPeter WardJuly 13, 2022

North Korea’s largest-ever banknote signals changes underfoot in monetary system

50,000-won denomination appears to be result of state efforts to push enterprises away from using foreign currency

Peter WardPeter WardJune 22, 2022

Why inflation is finally spiking in South Korea, months after the US

Different factors have driven rising prices in two countries, increasing likelihood of economic slowdown

Peter WardPeter WardJune 15, 2022
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