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North Korea’s Economy in Transition: Policies, Markets, and Industrial Change

North Korea’s economy continues to evolve amid changing development priorities, efforts to strengthen economic management, and shifting domestic and external conditions. The 2026 North Korea Economic Forum (NKEF) Annual Conference, “North Korea’s Economy in Transition: Policies, Markets, and Industrial Change,” will bring together leading experts to assess the current state and trajectory of the North Korean economy. The conference will examine North Korea’s economic policies and development priorities, as well as what recent movements in prices and exchange rates reveal about markets and the broader economy. It will also take a closer look at the country’s industrial economy, assessing developments in heavy and light industry and the structural constraints affecting production, investment, and consumption. A closing roundtable discussion will build on the two sessions to explore the broader strategic and policy implications of North Korea’s economic developments. Held virtually over two days, the conference will provide a timely update on where the North Korean economy stands, how it is changing, and what these changes may mean for policymakers and scholars.