North Korean Economy Watch

Details are starting to emerge on North Korea’s recent anti-corruption drive.   

North Korean authorities have been investigating the chief of a North Korean committee in charge of inter-Korean economic cooperation for months after seizing $20 million from his house, a report said Friday.

Quoting an unidentified Chinese source informed on North Korean affairs, the Dong-A Ilbo newspaper said Pyongyang authorities are intensifying their investigation into Jung Woon-eop and 80 other officials of the committee over where the money came from.

It is possible that this is just a good old fashoned purge.

It is also possible that this campaign is the first stage in a policy shift.

The full article can be found here:
NK Official Suspected of Embezzling Funds From Seoul
Korea Times
Jung Sung-ki
02-22-2008

This entry was posted on Sunday, February 24th, 2008 at 6:28 pm and is filed under Foreign direct investment, Kaesong industrial park, National Economic Cooperation Federation (DPRK), Special administrative regions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.