• Smart Media Journal
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• v.9 no.4
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• pp.44-51
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• 2020

Since the mid-to-late 1990s, there have obviously been many changes in the North Korean economy. Since the change has been more pronounced since Kim Jong Un took power in 2012, the purpose of the paper is to track the trend of economic policy by timing. In this paper, I use LDA Topic Modeling, a text-mining analyzer method, to analyze the economics journal "Economic Research," which is a representative literature in the economic field published in North Korea. An in-depth analysis of the "economic research," which has an unrivaled position as an economic journal produced in North Korea, can be said to be an essential task in tracking the reality, limitations facing the economy and alternatives that North Korean authorities are aware of. Through the "Economic Research," where various topics of debate on the North Korean economy are hidden, the North Korean leader's economic policy flow is examined and the contents of the "change" intended by the current Kim Jong-un regime are analyzed.

• Land and Housing Review
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• v.13 no.3
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• pp.1-20
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• 2022

This study analyses how much Korean visits to North Korea have an impact on the North Korean regional economy. It estimates the demand for North Korean tourism via the borders of North Korea, China, and Russia and South Korean expenses to be spent in North Korea. When asked if they are willing to visit North Korea within the next five years in case the pre-conditions of the visit to North Korea are satisfied, approximately 64.1% of the survey respondents indicated 'yes'. To estimate the demand, this research employed the analysis of purchase intention, popular in marketing, based on their willingness to visit. The annual demand for tourism was 4,136,361 persons. The average estimated expense per person is KRW 1,532,000 and the total annual expense is KRW 6,336.9 billion. Assuming that airfare is excluded from the total expense and the expense is made evenly in each tourist destination, the estimated amount to be spent in North Korea is KRW 2,838.7 billion per annum. The backward linkage effect of this expense on the North Korean regional economy is KRW 7,972.1 billion in total production inducement, KRW 2,619.4 billion in value-added inducement, and approximately 2,890,443 persons in employment inducement. The value-added inducement effect is estimated to be approximately 7.6% of the North Korean nominal GDP in 2020. South Korean tourism is expected to have a significant impact on the North Korean economy. As the demand for North Korean tourism is likely to increase steadily due to the expected increase in overseas travel demand by Koreans, inter-Korean cooperation is needed for the development of North Korean tourism infrastructure if conditions improve.

• East Asian Journal of Business Economics (EAJBE)
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• v.10 no.1
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• pp.11-21
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• 2022

Purpose - Beginning from the formation of the two governments, South and North Korea in 1948, North Korean collective economy as per trade in exchange strategies with right of way employed on heavy and chemical companies, against the external concerned with South Korean selling economy. This study aims to provide solutions for the joint economic prosperity of South and North Korea in the future. Research design, Data, and methodology - This study adopted a qualitative content analysis research method. This research method focuses on themes and concepts that are present in previous literature. This method seeks to derive relationships and meanings by analyzing themes and concepts within existing data. Result - According to qualitative textual analysis, the findings indicate that there are total seven solutions to lead the joint economic prosperity of South and North Korea (Technology Innovation, Energy and Construction, Construction companies and the Gulf market; Oppression via negotiation, Sports and Culture, Agenda-setting and Framing; Competition System). Conclusion - The Korean Government's association strategies outlines tackled in this study are uniform to each other because they are phased, peaceful, regular, and well-designed. But there were situations in which diminutive tenure North Korea approaches was enlisted beyond medium-to-lasting-period union strategies. North Korea should allow a free market whereby its citizens can freely trade among themselves and other people from South Korea.

• Proceedings of the KIEE Conference
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• 1998.11a
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• pp.248-252
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• 1998

The ACE Engineering, Inc. (ACE) of Seoul, Korea and The Energy Systems Institute (SEI) of Irkutsk, Russia has extensively studied the formation of an interconnected electric power systems throughout the North Eastern Asia Region(NEAR). The region encompasses East Siberia (ESR), Far East of Russia(FER), North East China(NEC), Mongolia(MON), North Korea(NKOR), South Korea(SKOR). Although geographically adjacent to each other, these countries and territories have different levels and rates of economic development, possess different reserves of energy resources which complement each other and hence, can interact to their mutual benefits. This Project is called Peace Network Project (PNP) because it seems to contribute for development of power economy and clean environment. In a word, the PEACE Network is expected to serve as "Power Economy And Clean Environment Network" and to promote the international cooperation. to expedite the peaceful reunification of North & South Korea and to revive the Korean culture in the North, and eventually contribute to the human prosperity.

• The Journal of Industrial Distribution & Business
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• v.11 no.5
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• pp.27-34
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• 2020

Purpose: North Korea is a very close country geographically and culturally, but the nation has been one of the most secretive countries in the world. However, in recent years, North Korean society has been known to rapidly change its economic environment as well as its diplomatic and political environment. Since the gaining power of Jong-un, Kim in 2012, the North Korean government has implemented a new set of economic policies. North Korea has embraced limited market systems and mechanisms that have become a part of the formal planned economy. This study is concerned with the recent changes in the market and marketing activities of the communist country. It also seeks to gain an understanding of the changing market behavior of North Korean consumers. The purpose of this study is to enhance understanding of the market environments of North Korea and to provide appropriate implications for practitioners and researchers. Research design, data and methodology: Academic access to information that can understand North Korea's reality is minimal. Therefore, this study was conducted based on a qualitative analysis of secondary data. The existing literature on North Korea, related news and reports were the basis of the analysis. Analysis of secondary data related to North Korea was the main methodology of the study. Results: The official ideology of North Korea rejected most aspects of marketing, and yet there were marketing activities in North Korea. This article focuses on the development of market and marketing activities in North Korea during the recent years. This study indirectly confirmed that the market function is being activated in North Korea, and the basic functions of marketing such as advertisement, price, and distribution are being formed. In this process, the activation of the 'Jangmadang(market)' played a significant role. Conclusions: Research shows that North Korea is rapidly developing its own market function. In addition, marketing activities such as advertising and pricing strategies seem to be unprecedentedly active. However, due to changes in the political environment, the future development of North Korea's marketing is still in flux. Efforts to improve mutual understanding through continuous research are required.

• Environmental and Resource Economics Review
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• v.16 no.2
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• pp.313-336
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• 2007

The paper is concerned with, firstly, estimating the North Korean input-output table in which energy sectors like electricity and petro products are specified and, secondly, computing the effect of an investment in the energy sector on North Korean economy, by using the estimated input-output table and applying CGE analysis. The 4,000 million dollar investment on North Korean electricity industry produces 368 million dollar worth of output and 156 million dollar worth of value added. The 150 million dollar investment on petro industry creates about 20.5 million dollar worth of output and 9.65 million dollar worth of value added in North Korea.

• Journal of Arbitration Studies
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• v.18 no.1
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• pp.167-184
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• 2008

The economic cooperation between the South and North Koreas is a very important issue for the unification and economic development of both Koreas. In order to reach a successful economic cooperation, there is a need to coordinate the differences of the two countries before unification. The economic cooperation and the cooperation in other sectors will be followed by the entire unification. It is necessary to prepare a mechanism that could peacefully solve the conflicts and disputes that could arise during the actual process of cooperation, which will secure stable investments and trades. The study on the possibility of introducing the arbitration system as a conflict solving mechanism between the two Koreas is a very important subject, and the basis of this study is on the examination of the arbitration laws of North Korea. Therefore, the study on the efficiency of the North Korean arbitration laws on foreign economy is studying the possibility of a systematical solution to economic conflicts between the South and North Koreas. The problems and possible solutions of the North Korean foreign economy arbitration laws are summarized as follows. First, juridical cooperation system for both South and North courts of justice needs to be set up to smoothly carry out the main procedures. Mutual correspondence and telecommunication needs to be guaranteed, also remittance and the movement of goods shall precede. Second, the free liquidation of businesses by unit and the individual and independent management of wealth of the North Korean economic bodies, organizations and businesses shall precede to independently liquidate wealth and thus make arbitration possible. Third, amendments in the North Korea's foreign economy arbitration law shall be made to some parts of regulations on arbitration agreements and specific contents of written arbitration agreements to avoid conflicts regarding arbitration agreement. Fourth, the members of the North Korean arbitration committee shall impartially manage the committee only without taking the role of arbitrator, and the clause that allows the North Korean committee to nominate the arbitrator shall be erased. In case an agreement regarding the number of arbitrators is not reached, the three arbitrators general rule shall be applied. In case of requests from any of the parties, a third country arbitrator nomination shall be guaranteed. Also, the requested arbitrator by the party shall be nominated with the cooperation of the court. Fifth, the trial in case of non-appearance or written trial shall be added to the North Korean law in to prevent intended negligence or evasion. Sixth, regulations regarding the court's investigation of evidence shall be added to the North Korean law to make fair arbitration possible in case that government power is needed in order to investigate evidence. Seventh, provisions regarding majority decision shall be added in the North Korean law in the impossibility of unanimous decisions, and the certified system in the arbitration committee official text shall be erased to prevent arrogation and assure the power of the decision made by the arbitration government. Eighth, as "the wrong decision approved" reason for cancellation of arbitration in the North Korean law includes the content of the decision made by the arbitrator could lead to uselessness of arbitration, amendment will be necessary to limit it to legitimacy of the arbitration agreement and wrong procedures. It is hoped that this thesis will be of important use in understanding the issues on the workability and the solutions to the South and North Koreas' arbitration that could be presented during the negotiations for the countries' economic cooperation.

• International Commerce and Information Review
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• v.7 no.4
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• pp.135-156
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• 2005

Since July 7 mutual declaration in 1988 which is a landmark for South-North Korean relations, Inter-Korean Trade has been set out. During the period, the Inter-Korean Trade has been ups and downs depending on the Inter-Korean relations and economic situation of both countries. South Korea became one of the major three trading countries of North Korea's trading partners in 2000, when the sum of annual trade volume reached the record 425million US dollars. A rapidly increasing number of countries including North Korea are developing national policies and strategies to promote the digital economy, recognizing the potential benefits of e-business as an engine of growth and development. However, the trade structure of South-North Korea remains very simple in terms of its contents. Furthermore trade procedure many limitations especially electronic commerce in North Korea has many obstacles to working properly. The information in Inter-Korean trade cannot be shared in common. South Korean firms have suffered repeatedly trial and error and excessive competition took place among South Korean firms. Institutional inertia related to mutual trade, political and military Impacts on Inter-Korean economic relations, abnormal industrial structure of North Korea and insufficiency of SOC could be mentioned as major problems in Inter-Korean trade as well. Several measures should be taken in order to cope with those problems. First of all, South Korean government should provide valuable information to business firms about North Korean economy and business environments. It is suggested that forums related to inter-Korean trade hold in regular base between South and North Koreas and establish the system of business information sharing. Second, the government should improve various laws and regulations to respond to the realistic needs of inter-Korean trade. That is, detailed measures should be taken to guarantee investment in electronic commerce. Third, it is desirable to start with the mutual agreement between South and North Korea.

• Journal of the Korean Professional Engineers Association
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• v.33 no.4
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• pp.17-26
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• 2000

This study has been done to make a practical suggestion in figuring out required size of electricity power facility in preparation for reunion of Korean Peninsula, estimated based on capacity increase and demand changes in the past. In making the suggestion, balanced development of South and North Korea Economy, recovery of existing power facilities, and construction of new power facilities were taken into consideration. As an alternatives, study result of power system interconnections in Korean Peninsula and/or in North-East Asia Region, PEACE Network, is suggested with a cooperation scheme of information and communications technology as an extra advantage. Concluded a cooperation of electric power system and information & communications technology in the peninsula is expected to be a great opportunity in developing electric power economy, maintaining clear environment, improving security of power supply in the region, and in reunion of Korean Peninsula and peace in the world.

• KDI Journal of Economic Policy
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• v.42 no.4
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• pp.1-25
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• 2020

The international community's sanctions against North Korea, triggered by North Korea's nuclear tests and by missile development in the country, are considered the strongest sanctions in history, banning exports of North Korea's major items and limiting imports of machinery and oil products. Accordingly, North Korea's trade volume decreased to the level of collapse after the sanctions, meaning that the sanctions against North Korea were considered to be effective. However, according to this paper, which analyzed the price fluctuations of refined petroleum products in North Korea through the methodology of an event study, the market prices of oil products were only temporarily affected by the sanctions and remained stable over the long run despite the restrictions on the volumes of refined petroleum products introduced. This can be explained by evidence that North Korea has introduced refined oil supplies that are not much different from those before the sanctions through its use of illegal transshipments even after the sanctions. With regard to strategic materials such as refined oil, the North Korean authorities are believed to be desperately avoiding sanctions by, for instance, finding loopholes in the sanctions to meet the minimum level of demand.