University gives North Koreans a peek into market economy

[SEOUL] Capitalism, in hermit North Korea, is normally associated with moral and economic ruin.

The Korea-born American who heads Pyong-yang's only private university is trying to change that. He believes he has the support of the man many think is emerging as the real power in the North, whose new leaders are pondering how to save their broken economy from collapse.

The Pyongyang University of Science and Technology, co-founded by Chan-mo Park, is teaching dozens of North Koreans the skills of a modern market economy, something the impoverished state has managed for decades to avoid.

"I want whatever they learn to be used to revive their country's economy," Mr Park told Reuters in an interview in Seoul, one of the world's most wired cities in sharp contrast to Pyongyang which even though it is home to North Korea's elite, struggles to provide its residents with power or heating.

Source: http://www.businesstimes.com.sg/premium/economy-watch/university-gives-north-koreans-peek-market-economy

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