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Date : August 28, 2012
The Signs of Financial Reform in North Korea
   http://www.yonhapnews.co.kr/politics/2012/08/27/0511000000AKR201208271… [2591]
According to a North Korea related media source, it seems there is a plan going on for financial reform in North Korea. An economics professor, Kim Eun Cheol, in Kim Il Sung University, stated in a paper that the country needs to strengthen the control of finance to improve the economy to a stable level.
For this, the North Korean government is trying to reform the banking system. They have hired specialists of finance and accounts so that they can make a new inspection system. Although the planned economy changes in 2005 were not successful, the North Korean specialist stated that if the financial reform in North Korea processes well, the economy can be stable, and the reliance on foreign currency can be decreased. Thus, the improvement of the North Korean economy depends on whether they manage the financial reform well.

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