Is a Surging Exchange Rate North Korea’s Economic Achilles’ Heel?
Byung-yeon Kim, Distinguished Professor at Seoul National University, examines North Korea’s recent economic performance, comparing it to the relative stability of its policies from 2013 to 2023, with a focus on exchange rate stability and price control. He analyzes the links between rising wages, surging exchange rates, and the regime’s attempts to roll back marketization through increased state intervention. Kim argues that future policy assessments must account for broader geopolitical factors, particularly North Korea’s involvement in the war in Ukraine, which could significantly aff...
Commentary
- Byung-Yeon KIM
- February 14, 2025