Comments
A North Korean economist says the government introduced new economic management methods last month that relax state control over workers’ salaries.
Government economist Ri Ki Song says the change introduced on April 1 should not be seen as “reform and opening.”
He says North Korea is sticking to socialist ownership of the means of production.
Enterprises will be allowed to set salaries from money left over after repaying the state for its investment and putting aside funds for continued operation of their businesses.
Impoverished North Korea last year allowed farmers to keep part of their harvests.
The latest move seems intended to boost production by allowing companies to give bigger incentives to workers.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.