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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World More than 80% of N. Koreans 'rely on market economy' AFP - Thursday, February 10 Send IM Story Print More than 80% of N. Koreans 'rely on market economy' Slideshow: Full Photo Coverage: Business & Economy SEOUL (AFP) - – More than 80 percent of North Koreans now rely on the market economy to feed themselves as the impoverished communist state's official rationing system shrinks, a report said Tuesday. Chosun Ilbo newspaper, citing a senior Seoul official, said about 83 percent of the North's 24 million people shop at private markets after the state distribution system became increasingly unreliable or stopped altogether. Only four million people, including those living in the capital Pyongyang, get regular food handouts from the government, it said. Private markets began springing up in the 1990s after the state rationing system started to collapse during years of famine. The ruling regime, fearful of losing its grip over the economy, has made sporadic attempts to curb them. Related article: N.Koreans abroad send back millions But a botched attempt in 2009 to revalue the currency pushed up prices, worsened already severe food shortages and sparked rare public unrest. Market controls were relaxed in the aftermath of the revaluation. "The North's government, wary of possible riots, has no choice but to turn a blind eye to the markets," said the official, quoted by Chosun. The private markets "have now become a major, semi-legalised part of the North's economy," said Professor Yang Moon-Soo of Seoul's University of North Korean Studies. "The marketplace economy will keep thriving unless there is a dramatic change in the country," he told AFP. China, the North's sole major ally, has urged it to adopt Chinese-style free-market reforms. Recommend Send IM Story Print Related Articles LSE's TMX bid poses tricky challenge for Canada Reuters - 33 minutes ago RPT-UPDATE 1-Mozambique eyes 10 mln tns/yr coal exports Reuters - 40 minutes ago AMP NZ Office Trust H1 profit NZ$31 mln Reuters - 42 minutes ago RPT-Rio Tinto H2 profit expected to soar Reuters - 43 minutes ago US-BUSINESS Summary Reuters - 1 hour 7 minutes ago News Search Top Stories Fed's Bernanke tackles congressional critics Images show why ancient snakes were out on a limb Nokia 'on a burning platform,' CEO warns in memo Egypt protests mount as US presses Mubarak London, Toronto stock exchanges unveil merger More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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