How rigidly socialist North Korea embraced capitalism, on its own eclectic terms



Columns How rigidly socialist North Korea embraced capitalism, on its own eclectic terms The DPRK turned to foreign trade companies to earn cash when state agencies failed, sometimes through outlandish schemes Andrei Lankov July 26, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON North Korean young men in black suits in Kim Il Sung Square \| Image: Eric Lafforgue (May 2010) To a significant extent, North Korea’s foreign trade is dominated by what are known as foreign trade companies, or FTCs, a rather unusual situation for a country that is at least nominally a communist state. But this was not always the case, and a wealth of little-known documents recently found by this author — including decades-old writings by defectors, new editions of past leaders’ works and specialized DPRK periodicals — reveal the process by which Pyongyang came to embrace a capitalistic approach to foreign trade. To a significant extent, North Korea’s foreign trade is dominated by what are known as foreign trade companies, or FTCs, a rather unusual situation for a country that is at least nominally a communist state. But this was not always the case, and a wealth of little-known documents recently found by this author — including decades-old writings by defectors, new editions of past leaders’ works and specialized DPRK periodicals — reveal the process by which Pyongyang came to embrace a capitalistic approach to foreign trade. 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. © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update Start your day with the North Korea stories that matter most – as selected by And how should we address you in correspondence? One more step! Please check your inbox, for an email we just sent you, and click on the confirmation message in it to get subscribed to our Daily News Update. Trending

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How rigidly socialist North Korea embraced capitalism, on its own eclectic terms

The DPRK turned to foreign trade companies to earn cash when state agencies failed, sometimes through outlandish schemes

Andrei Lankov July 26, 2024

How rigidly socialist North Korea embraced capitalism, on its own eclectic terms

North Korean young men in black suits in Kim Il Sung Square | Image: Eric Lafforgue (May 2010)

To a significant extent, North Korea’s foreign trade is dominated by what are known as foreign trade companies, or FTCs, a rather unusual situation for a country that is at least nominally a communist state.

But this was not always the case, and a wealth of little-known documents recently found by this author — including decades-old writings by defectors, new editions of past leaders’ works and specialized DPRK periodicals — reveal the process by which Pyongyang came to embrace a capitalistic approach to foreign trade.

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How rigidly socialist North Korea embraced capitalism, on its own eclectic terms

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