When it comes to discussing North Korea, the image of a “land of starvation” may still dominate perceptions of the country, but more and more people are coming to understand, perhaps somewhat reluctantly, that this characterization is incorrect.
Recently, the Bank of Korea, South Korea’s central bank, changed its long-held position on the North Korean economic growth. For years, the Bank of Korea has published improbably low estimates of North Korea’s annual GDP growth, usually claiming it to be between 1% and 1.3% - well below the estimates of virtually all other observers.
When it comes to discussing North Korea, the image of a “land of starvation” may still dominate perceptions of the country, but more and more people are coming to understand, perhaps somewhat reluctantly, that this characterization is incorrect.
Recently, the Bank of Korea, South Korea’s central bank, changed its long-held position on the North Korean economic growth. For years, the Bank of Korea has published improbably low estimates of North Korea’s annual GDP growth, usually claiming it to be between 1% and 1.3% - well below the estimates of virtually all other observers.
Try unlimited access
Only $1 for four weeks
-
Unlimited access to all of NK News: reporting, investigations,
analysis
-
Year-one discount if you continue past $1 trial period
-
The NK News Daily Update, an email newsletter to keep you in
the loop
-
Searchable archive of all content, photo galleries, special columns
-
Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting,
investigations, and analyses by our team of DPRK experts.
Subscribe
now
All major cards accepted. No commitments – you can cancel any time.