How North Korea’s Economy Thrives On Its Black Market

Is Gentrification Turning London Into A Ghost Town?

As the hermit kingdom, North Korea is closed off from global trade, but the nation has a loophole. So how does North Korea’s black market work?

Learn More:

Years after the famine, here’s how North Koreans really get by
“Private trade has become so prevalent in recent years that it permeates all levels of society, from the poorest through to the Communist Party and military elites.”

Kim Jong-un’s recipe for success: private enterprise and public executions
“There is some truth in this description but it does not represent the whole story. He may have a penchant for executions, but Kim is also the first ruler of the dynasty to implement market-oriented reforms.”

North Korea: Black economy swelling disposable incomes
“Though not officially acknowledged, a “grey economy” has evolved over the past two decades, a development that has accelerated under leader Kim Jong Un, experts say.”

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