RFA: N. Korea Plans to Apply Capitalism Factors in Operating Companies

Write : 2017-01-26 15:20:22 Update : 2017-02-01 11:05:50

RFA: N. Korea Plans to Apply Capitalism Factors in Operating Companies

A Chinese businessman who frequently travels to North Korea has said that the authorities in Pyongyang will guarantee more autonomy in corporate management beginning this year.

Radio Free Asia(RFA) quoted the businessman as saying that the North reached the conclusion after testing the concept in model state-run companies last year under orders from leader Kim Jong-un.
He said that the model companies decided on wages, the size of the workforce and the procurement of funds on their own. They, in turn, paid a certain amount of taxes to the state.
However, sources in China familiar with North Korea affairs said that there is little possibility that self-management will be realized in North Korean companies. The sources said that companies would have to attract investment from other countries or issue stocks if they wanted to procure funds on their own, but that would not be possible in the North. 

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