Menu Content
Go Top

Inter-Korea

Economic Life in NK Sees Big Change

Written: 2005-03-29 14:38:35Updated: 0000-00-00 00:00:00

The New York Times says economic life in North Korea has changed significantly since market reforms in 2002 undid many tenets of the communist system, that banned or limited private commerce and property.

A Times article said Monday that North Korean farmers can now take over fallow land and keep profits earned from selling produce grown there in markets.

The changes are more noticeable in cities, with people being allowed to trade goods for profit in newly-created public markets, including 38 in the capital of Pyongyang.

The markets sell everything from clothing and bicycles to televisions and refrigerators, mostly imported from China.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >