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Understanding Korea 5 Economy

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Understanding Korea 5 Economy UNDERSTANDING KOREA 5 ECONOMY PYONGYANG, KOREA Juche 105 (2016) UNDERSTANDING KOREA 5 ECONOMY Foreign Languages Publishing House Pyongyang, Korea Juche 105 (2016) CONTENTS 1. Type of the Economy..............................................1 2. Planned Economy ...................................................1 3. Socialist Ownership of the Means of Production ..........................................................2 4. All-People Ownership and Cooperative Ownership...............................................................2 5. Necessity for the Conversion of Cooperative Ownership into All-People Ownership...................3 6. Organic Combination of All-People Ownership with Cooperative Ownership ..................................4 7. Planning of the National Economy .........................5 8. Unified Planning.....................................................5 9. Detailed Planning....................................................6 10. Advantage of the Planned Economy.......................6 11. Independent National Economy..............................6 12. Differences between Independent Economy and Closed Economy ..............................................7 13. Key Aspects of the Independent National Economy ..................................................8 14. Viability of the Independent National Economy ....8 15. Economic Structure.................................................9 16. Theory on Management of the Socialist Economy............................................................... 10 17. Taean Work System.............................................. 11 18. Major Methods of Socialist Economic Management ......................................................... 11 19. Seed Essential to Improving Socialist Economic Management ........................................ 12 20. Line of Economic Construction in the Songun Era ................................................. 13 21. Goal of Economic Development........................... 13 22. Definition of Socialist Economic Giant................ 13 23. Strategic Line of the Workers’ Party of Korea for Building an Economic Giant........................... 14 24. Essential Characteristics of a Socialist Economic Giant.................................................... 14 25. Objective of the Five-Year Strategy for National Economic Development ................... 15 26. Industrial Infrastructure ........................................ 15 27. Priority Given to Heavy Industry ......................... 16 28. Extractive Industry ............................................... 16 29. Underground Resources ....................................... 17 30. Construction of Mines.......................................... 18 31. Important Mines................................................... 19 32. Coal-Mining Industry ........................................... 20 33. Big Coalfields....................................................... 20 34. Electric-Power Industry........................................ 22 35. Tapping of Renewable Energy Sources................23 36. Metallurgical Industry...........................................24 37. Juche-Based System of Producing Iron ................25 38. Important Metallurgical Bases..............................25 39. Machine-Building Industry...................................26 40. Shipbuilding..........................................................27 41. Chemical Industry.................................................27 42. Vinalon .................................................................29 43. Recent Advances in Chemical Industry................29 44. Building-Materials Industry..................................31 45. Light Industry .......................................................32 46. Central Tasks Facing Light Industry.....................32 47. Textile Industry.....................................................33 48. Garment Industry..................................................34 49. Footwear Industry.................................................34 50. Foodstuff Industry.................................................35 51. Daily-Necessities Industry....................................36 52. Local Industry.......................................................36 53. Electronics Industry ..............................................37 54. Agriculture............................................................38 55. New Agricultural Guidance System .....................39 56. Sub-Workteam Management System....................39 57. Juche Farming Method .........................................40 58. Seed Revolution....................................................41 59. Agricultural Science and Technology...................42 60. Land Realignment................................................. 42 61. Irrigation Network ................................................ 43 62. Gravitational Waterways ...................................... 44 63. Tideland Reclamation........................................... 45 64. Taegyedo Tideland ............................................... 46 65. Organic Farming................................................... 46 66. Crop Cultivation ................................................... 47 67. Vegetable Growing............................................... 47 68. Mushroom Production.......................................... 48 69. Industrial Crop Farming ....................................... 49 70. Livestock Farming................................................ 50 71. Pomiculture........................................................... 51 72. Sericulture............................................................. 51 73. Fishing Industry.................................................... 52 74. Fishing .................................................................. 53 75. Inshore Aquaculture ............................................. 54 76. Fish Farming......................................................... 54 77. Seafood Processing............................................... 55 78. Transport............................................................... 56 79. Rail Transport....................................................... 56 80. Songun Pulgungi 1 Electric Locomotive .............. 57 81. Road Transport ..................................................... 58 82. Water Transport.................................................... 59 83. West Sea Barrage.................................................. 59 84. Transport by Means of Cableway, Conveyor and Pipeline.......................................... 60 85. Telecommunications............................................. 61 86. General Orientation of Land Administration ........61 87. Afforestation.........................................................62 88. Landscaping with Lawns ......................................63 89. Agroforestry ............................................................. 63 90. Recent Achievements in Land Administration .....64 91. Commerce.............................................................65 92. Public Catering .....................................................66 93. Quality Management.............................................66 94. Quality Accreditation............................................67 95. Standardization .....................................................68 96. Finance..................................................................69 97. System for Protecting Intellectual Property Rights .....................................................70 98. Activities for Protecting Intellectual Property Rights .....................................................70 99. Foreign Trade........................................................71 100. Effecting a Turnaround in Building an Economic Giant................................................72 1. Type of the Economy The Democratic People’s Republic of Korea is propped up by the planned economy which, on the basis of socialist ownership of the means of production, is operated by organically combining the state’s unified guidance with individual enterprises’ relative independence and creativity. It is a self-supporting national economy that stands on its own feet, progressing by dint of domestic efforts, materials and technology. 2. Planned Economy Planned economy is a type of economy that develops in a planned and balanced way according to the unified strategy of a given state. The state accelerates economic construction by ensuring a reasonable balance between accumulation and consumption in conformity with the laws governing the development of the socialist economy, and draws up and executes a national economic plan geared up to steadily improving the people’s living standards. This type of economy is based on socialist ownership of the means of production and collectivism. 1 3. Socialist Ownership of the Means of Production Socialist ownership of the means of production means that the material elements for production are under the collective ownership of the socialist working people. In other words, it means that the material elements for production–means of labour and objects of labour–are under the public ownership of a social collective. Within the state machinery of the DPRK, raw and other materials, land, production-related buildings, means of transport, posts and telecommunications, and all other means of production are placed under the collective ownership of the working people. Socialist ownership of the means of production
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