So far, North Korea’s new economic plan is full of bad signs



Analysis So far, North Korea’s new economic plan is full of bad signs State media shared vague details about Party Congress economic reforms that suggest more state control on DPRK markets Peter Ward January 11, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON NK Pro Kim Jong Un is emerging out of the Eighth Party Congress with a report that hints at little change from where the country was a year ago. Nevertheless, the information unveiled by the Rodong Sinmun gives us some indication of where economic policy and planning is headed — and the signs are far from encouraging for anyone that’s hoping for a North Korea that will promote growth, development and greater economic freedom for its people. Here are some key takeaways: Few target industries divulged: The five-year economic plan usually includes economic targets where the country hopes Read More © 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. LATEST ANALYSIS 01Why Trump’s approach to Iran nuclear talks could reinforce North Korean distrust 02Every company that joined North Korea’s not-so-international spring trade fair 03Navigating uncertainty: How Lee Jae-myung could overhaul North Korea policy 04North Korea puts finishing touches on Wonsan Kalma resort ahead of June opening 05North Korea poised to test more weapons in months ahead as 5-year deadline looms 06A third front: Japan’s missile buildup challenges North Korea’s defense plans 07What Arab Gulf states’ rise as mediators means for future US-North Korea talks 08North Korea prioritizes shipyard construction as major naval base project stalls 09North Korea heralds naval revolution with launch of impressive new destroyer 10How secret North Korean customs rules lay bare a bizarre trade regime

Analysis

So far, North Korea’s new economic plan is full of bad signs

State media shared vague details about Party Congress economic reforms that suggest more state control on DPRK markets

Peter Ward January 11, 2021

So far, North Korea’s new economic plan is full of bad signs

NK Pro

Kim Jong Un is emerging out of the Eighth Party Congress with a report that hints at little change from where the country was a year ago. Nevertheless, the information unveiled by the Rodong Sinmun gives us some indication of where economic policy and planning is headed — and the signs are far from encouraging for anyone that’s hoping for a North Korea that will promote growth, development and greater economic freedom for its people.

Here are some key takeaways:

Few target industries divulged: The five-year economic plan usually includes economic targets where the country hopes

01Why Trump’s approach to Iran nuclear talks could reinforce North Korean distrust
02Every company that joined North Korea’s not-so-international spring trade fair
03Navigating uncertainty: How Lee Jae-myung could overhaul North Korea policy
04North Korea puts finishing touches on Wonsan Kalma resort ahead of June opening
05North Korea poised to test more weapons in months ahead as 5-year deadline looms
06A third front: Japan’s missile buildup challenges North Korea’s defense plans
07What Arab Gulf states’ rise as mediators means for future US-North Korea talks
08North Korea prioritizes shipyard construction as major naval base project stalls
09North Korea heralds naval revolution with launch of impressive new destroyer
10How secret North Korean customs rules lay bare a bizarre trade regime

So far, North Korea’s new economic plan is full of bad signs

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Peter Ward