North Korea’s external economic relations

책 소개

Since the beginning of the 21st century, in order to overcome their economic crisis situation, North Korea has attempted various reforms and open-door policies such as announcing measures on 1 July 2002 to improve economic management and designating special economic zones to host foreign capital. But by maintaining the framework of a planned economy and introducing reforms and open-door policies which only partially adopted the principles of market economy, these policies failed to produce proper results, and instead produced many side effects. Frankly, the recovery of the North Korean economy will be very difficult to achieve as long as the problems of productivity and the lack of supplies continue and are not fundamentally solved. It is clear that in order to solve these problems, North Korea must adopt a path of reform and implement open-door policies. However, there are many obstacles that prevent North Korea from taking this path. North Korea, which prioritizes the preservation of its system, is tepid about managing an open market economy. Also, North Korea is not an attractive place for investment because of its closed economy, the persistent North Korean nuclear problem and its hostile relationship with the US. Therefore, North Korean open-door policies can be promoted most realistically when a solution to the nuclear issue is in sight, international society makes offers to engage North Korea, and North Korea in turn actively expresses a genuine intent to accept those offers. But even under these circumstances, the reason why this journal chose to discuss the topic of economic trade with North Korea is not only because of the realistic recognition that the North Korean economy cannot recover by itself, but also because implementing open-door policies of North Korea is essential to maintain the inter-Korean exchanges and humanitarian aid. These efforts will help establish a continuous peaceful co-existence with the people of North Korea. Furthermore, the circumstances surrounding North Korea are not all negative with regards to North Korean foreign trade. South Korea, which has been North Korea’s most important partner for economic recovery since the 7.7 declaration made in 1988, is determined to help open up the North Korean economy. South Korea’s firm resolution on this point is easily recognized in the North Korean policies of the Lee Myung-bak administration. Also, the traditional major trading partners of North Korea, China and Russia, along with the economic powerhouse Japan are also geographically close. The recent economic growth in Northeast Asia has provided North Korea with sufficient opportunities to the revitalize its economy. The promotion of multinational cooperation will most likely be decided by the mechanism of the Six-Party Talks, the search for a potential solution to the nuclear problem, and the speed in which the US-North Korean relations are improved. However, if North Korea declares its intent to open up to domestic economic reforms, many countries including the US, Japan, China, and Russia (the four neighboring powerhouses) might promote efforts to engage in international cooperation with North Korea. Therefore, this journal will look at the cooperative relations between North Korea and neighboring countries such as South Korea, Japan, China, and Russia, which will play an important role in the implementation of future open-door policies in North Korea. The journal will also try to forecast the future direction of development for international exchange in North Korea.

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