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.