Materialisation of the Bjongjin doctrine: Economic changes in North Korea under Kim Jong-un’s rule

Abstract

North Korea is quite rightly perceived as one of the most backward countries
in the world in economic terms. However, the changes that took place
after Kim Jong-un came to power pass unnoticed. There is also scarce scientific
literature on this subject. The article, based on the available sources, analyses
the condition of the North Korean economy, the reforms implemented
there and the economic potential of that state, which may determine further
development of the Democratic People's Republic of Korea (DPRK). Among
the key changes that have taken place over the last few years, we can point
out in particular agricultural reforms, new conditions of the functioning of
industrial centres, openness to foreign investments and informal development
of the private sector, which operates with tacit consent of the authorities. The
analysis of all these factors should allow for making predictions about the
economic future of the state led by Kim Jong-un.