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North Korea's Light Industry in the 2000s and Implications for Inter-Korean Economic Cooperation

Author

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  • Lee, SeogKi

    (Korea Institute for Industrial Economics and Trade)

Abstract

North Korea’s light industry has developed thanks to the nation’s adoption of market principles and the advent a limited economic recovery, in the 2000s, diverging from the growth path of the 1990s. Exports have boosted the textiles and garments industries and expanding supply to the domestic market. The food processing and household good sectors have rapidly grown in serving the domestic market. The percentage of medium and large businesses supplying markets nationwide has also grown, and both are key drivers of North Korea’s light industry. Such development indicates greater potential and opportunities for the two Koreas to collaborate. Once United Nations sanctions on North Korea are eased or lifted, cross-border economic cooperation should fully resume, especially in light industry, where restrictions on region, sector and method of collaboration are lax. Against this backdrop, South Korea should focus on removing hurdles to the expansion of economic cooperation with North Korea in light industry, rather than providing direct support.

Suggested Citation

  • Lee, SeogKi, 2022. "North Korea's Light Industry in the 2000s and Implications for Inter-Korean Economic Cooperation," Research Papers 22/14, Korea Institute for Industrial Economics and Trade.
    • Handle: RePEc:ris:kietrp:2022_014
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    More about this item

    Keywords

    Cross-border Economic Cooperation; Food Processing; Household Good Sectors;
    All these keywords.

    JEL classification:

    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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