Sources: Market economy spreading across North Korea with Kim’s approval

Special to WorldTribune.com

By Lee Jong-HeonEast-Asia-Intel.com

Women at a market in Razon city, near Pyongyang, in 2012.  /Carlos Barria/Reuters/Landov
Women at a market in Razon city, near Pyongyang, in 2012. /Carlos Barria/Reuters/Landov

SEOUL — Features of a market economy, including competition and incentives, are rapidly spreading across North Korea multiple sources here said.

At the same time, decades-long socialist principles of centralized planning and equal distribution are being phased out, they said.

“The North’s authorities have allowed expanded autonomy for enterprises and tacitly tolerated individuals’ profit-seeking activities, which has led to increased incomes,” a source close to the secretive nation said.

“More and more individuals have launched business startups in return for paying bribes to the authorities, and workers at such firms get much higher wages,” he said.

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