North Korea’s fishing industry gets boost from private investment
The number of de facto private enterprises thriving in North Korea’s nascent market economy continues to grow, with Chongjin fishing businesses emerging as one of the latest permutations.
Since coming to power, Kim Jong Un has frequently stressed the importance of developing North Korea’s fisheries industry, and sought equipment and resource supplies from the people.
“The people’s skills and effort make possible what the factories cannot. We need 3-ton and 5-ton boats to catch fish. The donju can make it happen, investing money and resources so that the factories can provide them,” a source in North Hamgyong Province told Daily NK.
“The quality and performance of the ships built with private investment is so much better than anything produced by the small and mid-sized state enterprises.”
Shipyards in North Korea are generally small and designed to produce small to medium-sized vessels, primarily operating under the auspices of the military. However the facilities are often in poor condition and suffer from significant supply side shortages. ......