Economic exchanges that the two Koreas have maintained for the past two decades are in crisis. The jointly operated Gaeseong Industrial Complex is in trouble because of North Korea’s demand for excessive wage hikes. The regime insists on raising the minimum wage of North Korean workers to US$300 from US$70 and annual wage increases to more than 10% from 5%. Since wage guidelines are prescribed in North Korean law, there is no alternative but to follow the regime’s decision if it revises the law.
In addition, the regime reported that the land lease fee for the complex...
A loose monetary policy is a double-edged sword. The low interest rates can facilitate economy recovery, but also run the risk of fueling an asset bubble.
A loose monetary policy is a double-edged sword. The low interest rates can facilitate economy recovery, but also run the risk of fueling an asset bubble.
