Country

Presentation

(NORTH KOREA)Submitted By-Panchi

Changkakoty

Reg no.-130601315

MBA IV Trimester

•GDP growth rate-0.8%

•Inflation rate- N.A.

•Currency-Won (symbol: ₩; code: KPW)

•Currency exchange rate in respect to Indian rupee and US dollar: $1=134.668 Won

•1 Rupee= 2.199 Won

Economic indicators

North Korea remains isolated from most of the rest of the world. Data collection is extremely challenging, and reported statistics on the economy remain largely speculative, requiring careful evaluation. North Korea’s economic freedom score of 1.0 is 0.5 point lower than last year due to a worsened rating for freedom from corruption.

Over the 20-year history of the Index, North Korea has remained an unreformed and essentially closed dictatorial state. Despite experimenting with a few market reforms, the world’s most repressed economy adheres firmly to a system of state command and control that upholds the regime’s long-standing songun (“military first”) policy. Every aspect of economic activity is tightly controlled by the Communist Party. The state-run rationing system has deteriorated significantly in recent years. The North Korean economy has been rated the least free throughout the history of the Index.

North Korea may be attempting to open its economy slightly by encouraging limited foreign direct investment, but the dominant military establishment and ongoing leadership transition make any near-term substantial changes unlikely. Normal foreign trade is minimal, with China and South Korea being the most important trading partners.

•GDP size and its major contributors-

•Savings rate

•Size of foreign trade-

• Foreign exchange reserve size-

Exports $4.707 billion (2011)

Imports $4.33 billion (2011 est.)

• Main trading partners (% of each)• Main export partners

- China 63%

-South Korea 27%• Main import partners

-China 61.6%

-South Korea 20.0%

-European Union 4.0%• Main export items-Minerals, metallurgical products,

manufactures (including armaments), textiles, agricultural and fishery products, coal, iron ore, limestone, graphite, copper, zinc, and lead.

• Main import items-Petroleum, coking coal, machinery and equipment, textiles, and grain

• Per capita income- $1,800• Debt size (% of GDP)-$20 billion• Fiscal deficit-0.4% of GDP  • Major companies-Korea Ferrous Metals Export & Import

Corporation, steel, mining• Korea General Chemicals Trading Corporation, chemical group,

plastics• Korea General Zinc Industry Group, non-ferrous metals, mining• Consumer goods-Korea Sinhung Trading Corporation, Korea

Sogyong Trading Corporation,Pyeonghwa Motors, Pyongyang Chewing Gum Factory, Taedonggang Brewing Company

• Financials-Central Bank of the Democratic People's Republic of Korea, central bank,Foreign Trade Bank of the Democratic People’s Republic of Korea, bank,Taep'oong International Investment Group of Korea, investments

• Health care-Pyongsu Joint Venture Company, pharma• Industrials-Kim Chŏng-tae Electric Locomotive Works,

railways,Korea General Machinery Trading Corporation, machine tools, hydroelectrics,Korea General Magnesia Clinker Industry Group, heavy industrial group, non-ferrous metals, mining,Korea Ponghwa General Corporation, light industrial group, clothing, rucksacks, bags,Korea Unha General Trading Corporation, import/export, textiles,Mansudae Overseas Project Group of Companies, monuments and memorials,Ocean Shipping Agency, shipping, pilotage, logistics,Ryonbong, machine/materials export,Sungri Motor Plant, motors,Zokwang Trading, import/export

• FDI flow annually-$79 million• Central bank• % of budget expenditure on defense-$10,000,000,000(25%

of GDP)• % of budget expenditure on education-N.A.• % of budget expenditure on social security-N.A• Ranking in Human development index-0.733• Ranking in competitiveness index-N.A.

•Main holidays-14 February,Generalissimo Day-Honors the day when Kim

Jong Il received the title "Generalissimo of the Democratic People’s Republic

of Korea" posthumously in 2012.

•16 February,Kim Jong-il's Birthday,also known as the Day of the Shining

Star.

•25 April,Military Foundation Day Kim Il-Sung moved date from 8 February

to the date of establishment of his guerilla army in 1932.

•Main food items- Gujeolpan consists of a number of different vegetables and

meats served with thin pancakes.

• Sinseollo- An elaborate dish of meat and vegetables cooked in a rich broth

•Education literacy level

Social indicators

• Tourist destination/spots-Rajin-Sonbong Trade Free Zone,

Chongjin,

• Major religion-According to Religious Intelligence, 64.3% of

the population are irreligious adherents of the Juche idea, 16%

practice Korean shamanism, 13.5% practice Chondoism, 4.5%

are Buddhist and 1.7% are Christian.

• Population size- 2013 estimate 24,895,000

• National language-Korean ,North Koreans refer to their

Pyongyang dialect as munhwa ("cultured language")

•National flag-

•Type of government-Revolutionary Socialist

•Who is head of state and government (designations)

•Major political institutions and relationships among them-Supreme

People's Assembly (SPA) , Supreme People's Assembly sessions are

convened by the SPA Presidium, whose president (Kim Yong-nam since

1998) also represents the state in relations with foreign countries.

•Major political parties-Major parties Korean Workers' Party or KWP [KIM

Jong Un]

•minor parties: Chondoist Chongu Party [RYU Mi Yong] (under KWP

control) ,Social Democratic Party [KIM Yong Dae] (under KWP control)

Political Indicator

• Powers to make law-The Ministry of People's Security (MPS) maintains

most law enforcement activities. It is one of the most powerful state

institutions in North Korea and oversees the national police force,

investigates criminal cases and manages non-political correctional

facilities.

• Capital-Pyongyang

• Legal framework-North Korea has a civil law system based on the

Prussian model and influenced by Japanese traditions and Communist

legal theory.[101] Judiciary procedures are handled by the Central Court

(the highest court of appeal), provincial or special city-level courts,

people's courts and special courts.

Other Indicators

•Location-Eastern Asia, northern half of the Korean Peninsula bordering the

Korea Bay and the Sea of Japan, between China and South Korea (39°2′N

125°45′E)

•Neighboring countries-China,South Korea,Russia

•Climatic conditions-temperate with rainfall concentrated in summer

•Major rivers- Amnok (Yalu),Tumen rivers, Taedong river and Imjin river

•Brief history- How NK was formed

•After WWII Communist influence came from the soviet union and mostly

China. With political tensions between communist north and capitalist south, the

Korean war broke out. The war lasted from 1950 to spring 1953 until a peace

treaty signed by NATO nations and North Korea- China. Korea was divided in

two, and the dividing line would be know as the 38th parallel.

• Size of the country (geographical length and breadth)-120,540 km2

• Local standard time- Korea Standard Time (UTC+9)

• Major crops- Rice, corn, soybeans and potatoes are some of the primary crops

Thank You