The Hanoitimes - The sanctions leave direct impact on North Korean economy shown through a sharp decline in exports last year. What are visions for the denuclearization after second no-deal summit? The failure of the second Trump-Kim summit in Hanoi suggests sanctions remain a big issue between the US and North Korea, foreign media quoted international experts as saying. The UN Security Council votes to adopt a resolution imposing sanctions against North Korea. Photo: Getty Images North Korean nuclear negotiator Kim Yong Chol told Secretary of State Mike Pompeo in May 2018 that Pyongyang’s shift away from weapons was “not a result of sanctions that have been imposed from outside.” But in July 2018, Seoul-based Bank of Korea estimated the North Korean economy had seen its biggest decline in two decades, with the country’s real annual gross domestic product (GDP) falling by 3.5% in 2017 while exports declined 37.2% in 2017 alone. … [Read more...] about How much do US-led sanctions hurt North Korea economy?
North korea economy
The Hanoitimes - Vietnam’s post-war economic reform in the late 1980s has transformed the country into one of Asia’s fastest growing economies. Foreign Minister Ri Yong Ho of the Democratic People’s Republic of Korea (North Korea) is on a visit to Vietnam to learn renovation lessons from Vietnam – one of Asia’s fastest growing economies. North Korea foreign minister Ri Yong Ho meets with Vietnamese PM Nguyen Xuan Phuc on Dec 1. Photo: Thuonghieucongluan The visit from November 29 to December 2, 2018 is the first to Vietnam paid by North Korea’s foreign minister over the past decade. During the visit, Ri met with his Vietnamese counterpart Pham Binh Minh and Prime Minister Nguyen Xuan Phuc to talk about multisectoral cooperation for “sustainable growth goals” which North Korea is seeking for. The minister visited a hi-tech zone in Hanoi and worked with experts from the Vietnam Institute of … [Read more...] about North Korea wants to learn economic reform from Vietnam
A year of warming relations between North and South Korea has raised the prospects of closer ties, if not some form of unification for the still-warring neighbors far in the future. But it might not be obvious in a typical South Korean classroom. "I really don’t know anything," 17-year-old student Roh Ha-na said. "It’s like only twice a year that the school teaches about unification and national security, and about North Korean life... but I just let most of it go in one ear and out the other." This year’s inter-Korean détente has highlighted what many observers see as a lack of knowledge among South Koreans about their northern neighbor, prompting government efforts to revamp the way South Koreans learn about North Korea and unification. Baek Jun-kee, the head of South Korea’s Institute for Unification Education says current education methods have failed to show young South Koreans the importance of a nuanced understanding of North Korea, its people and … [Read more...] about Kim Jong Who? South Korea revamps the way students study North Korea
Ri will visit the Vietnamese capital, Hanoi, for three days from November 27 to inspect industrial zones and interview economic experts, a diplomatic source with direct knowledge of the trip told Reuters. South Korea’s Yonhap news agency, citing unidentified sources, also reported that Ri would make the three-day trip at that time. Vietnam’s foreign ministry did not immediately respond to a request for comment. South Korea’s foreign ministry said it was not aware of Ri’s visit. After years of self-imposed isolation, and sanctions for its development of nuclear weapons and ballistic missiles, North Korea has this year been trying to build its foreign contacts. Its leader, Kim Jong Un, has spoken of his hopes for reform of North Korea’s economy and has looked to examples in the region. Kim met South Korean President Moon Jae-in three times this year. In their talks, Kim repeatedly cited Vietnam’s successes, South Korean media reported. Kim also help a … [Read more...] about As North Korea ponders economic reform, its top diplomat to visit Vietnam
SEOUL: North Korea has warned the United States it will "seriously" consider returning to a state policy aimed at building nuclear weapons if Washington does not end tough economic sanctions against the impoverished regime. This undated picture released from North Korea's official Korean Central News Agency (KCNA) on Nov 1, 2018 shows North Korean leader Kim Jong-Un inspecting the construction site of the Hot Spring Tourist Area in Yangdok County, South Phyongan Province. (KCNA VIA KNS/AFP) For years, the North had pursued a "byungjin" policy of simultaneously developing its nuclear capabilities alongside the economy. In April, citing a "fresh climate of detente and peace" on the peninsula, North Korean leader Kim Jong Un declared the nuclear quest complete and said his country would focus on "socialist economic construction". But a statement issued by the North's foreign ministry said Pyongyang could revert to its former policy if the US does not change its stance over … [Read more...] about North Korea warns of returning to nuclear policy