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North Korea Economy KDI Review of the North Korean Economy, May 2024 May 31, 2024

North Korea Economy

Monthly published paper on the current status of the North Korean Economy and major
issues on inter-Korean economic cooperation assisting academia, policy makers and corporate sectors to better understand North Korea

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LanguageKOR
KDI Review of the North Korean Economy, May 2024
May. 31. 2024
Summary
The May issue analyzes several pivotal topics concerning the Korean Peninsula in 2024: North Korea's policy shifts, the U.S. presidential election and its implications for the region, cyber security strategies, and the evolution of state-run shops in Pyongyang under the Kim Jong-un regime. North Korea is advancing its nuclear and missile capabilities while bolstering ties with Russia and China. Domestically, it exhibits notable changes, such as excluding South Korea from its reunification agenda. The U.S. policy towards the Korean Peninsula remains contingent on the presidential election results. Nonetheless, South Korea should enhance the continuity and stability of its alliance with the U.S., diversify its security cooperation framework, and maintain a consistent stance towards North Korea, with an emphasis on crisis management. In terms of U.S.-ROK cyber security cooperation, it is essential to fortify information sharing systems, foster collaboration among public, private, and academic sectors, and explore partnerships with allies like Japan. Pyongyang's state-run shops under Kim Jong-un are integrating market principles and employing modernization strategies to distinguish themselves from traditional markets, indicating economic reforms aimed at reinforcing regime stability. Furthermore, this issue offers a foundational analysis of North Korea's state-run shops using research methods such as a quantitative analysis of the Rodong Sinmun, qualitative analysis of North Korean literature, and interviews with North Korean defectors.
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