Kim Il-sung University newspaper calls for more company autonomy

According to Yonhap:

It is important to clarify the authority and roles given to the Cabinet and companies, as giving more autonomy to workers can boost labor efficiency, according to a North Korean college newspaper on Monday.

North Korea’s Cabinet mainly handles the implementation of the North’s economic policies within the state-controlled rationing system.

Companies and workers can take the initiative and show creativity when the authority and role of the Cabinet and companies are clarified, according to an article in the newspaper issued by Kim Il Sung University, a prestigious institution named after the country’s founder.

How well the economy performs depends on how extensively businesses and workers are able to play their roles, the newspaper added.

The article came amid the growth of marketplaces, as North Korean leader Kim Jong-un is trying to give autonomy to companies in the North’s special economic zone to some degree, in a bid to prop up the feeble economy.

Last week, North Korea unveiled detailed plans to upgrade its special economic zone in the border city of Rason in a bid to lure foreign investment amid an economic slowdown and a series of U.N. sanctions.

The North said that profits and other proceeds generated in the zone can be repatriated outside North Korea “without restriction,” in what is seen as investment incentives to foreign investors. It also hinted at assuring autonomous operations for firms in the zone.

Read the full story here:
N. Korea needs to split roles of Cabinet, firms: newspaper
Yonhap
2015-11-23

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