[Night Sessions] North Korea’s Choice: Economic Reform

Session: Night Sessions
Date/Time: April 23, 2019 / 21:00-22:30

Moderator:
Go Myong-Hyun, The Asan Institute for Policy Studies

Speakers:
Thomas Byrne, The Korea Society
Furukawa Katsuhisa, Private Consultant on Global Sanctions Issues and National Security
John Park, Harvard Kennedy School
Hazel A. Smith, School of Oriental and African Studies, University of London

Panel Description
Economic development is one of two pillars of Kim Jong-un’s Byungjin policy. Standing in the way of delivering on this promise is the crippling sanctions regime imposed on North Korea by the international community as of 2016. As evidenced by the Hanoi meeting, North Korea strongly desires sanctions relief. Is this an indication of the impact that the sanctions have had on the North Korean economy? Estimates suggest that North Korea’s annual economic growth is between 1 and 5 percent. What explains these numbers? What are the short- and long-term implications of the existing sanctions regime? What does North Korea mean by economic development? Should South Korea pursue economic engagement with Pyongyang? If so, under what conditions?