Paid in full: North Korea's changing wage system



Analysis Paid in full: North Korea’s changing wage system Official sources suggest employers have increased freedom to hand out bonuses and benefits Peter Ward October 1, 2018 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON CPC_8278 by nknews_hq on 2016-10-05 11:03:37 North Korean leader Kim Jong Un has presided over quiet but significant legal changes in the country. Market prices and market forces are becoming central to how the economy works, not only in practice, but increasingly in law. One area where big changes are to be found is in the price of labor – i.e. wages. Analysis suggests: The old system of centrally set norms, wages, and bonuses seems to have been replaced by a bifurcated system of central supervision and regulation, with individual enterprises setting actual compensation; Other forms of compensation (in-kind distribution) have long since been Read More © 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. LATEST ANALYSIS 01How long-range strikes on Russia could impact North Korean troop deployments 02How North Korean hackers and IT workers collude to cause chaos 03What pro-Trump think tanks reveal about his likely North Korea policy priorities 04Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump. 05All the question marks hanging over Trump’s approach to North Korea in term two 06Time almost up for North Korea’s plan to launch 3 military satellites in 2024 07Trump return rekindles prospects of North Korea talks, but Russia stands in way 08How China could benefit from North Korea’s troop deployment to Ukraine

Analysis

Paid in full: North Korea’s changing wage system

Official sources suggest employers have increased freedom to hand out bonuses and benefits

Peter Ward October 1, 2018

Paid in full: North Korea’s changing wage system

CPC_8278 by nknews_hq on 2016-10-05 11:03:37

North Korean leader Kim Jong Un has presided over quiet but significant legal changes in the country. Market prices and market forces are becoming central to how the economy works, not only in practice, but increasingly in law. One area where big changes are to be found is in the price of labor – i.e. wages. Analysis suggests:

The old system of centrally set norms, wages, and bonuses seems to have been replaced by a bifurcated system of central supervision and regulation, with individual enterprises setting actual compensation; Other forms of compensation (in-kind distribution) have long since been

01How long-range strikes on Russia could impact North Korean troop deployments
02How North Korean hackers and IT workers collude to cause chaos
03What pro-Trump think tanks reveal about his likely North Korea policy priorities
04Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump.
05All the question marks hanging over Trump’s approach to North Korea in term two
06Time almost up for North Korea’s plan to launch 3 military satellites in 2024
07Trump return rekindles prospects of North Korea talks, but Russia stands in way
08How China could benefit from North Korea’s troop deployment to Ukraine

Paid in full: North Korea’s changing wage system

LATEST ANALYSIS

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Peter Ward