North Koreans cheer during a parade celebrating National Day and the 70th anniversary of the country’s foundation, in Pyongyang, on September 8. While experts have focused on North Korea’s mineral and hydrocarbon resources, nurturing its people may reap better results. Photo: EPA-EFE
Wonsik Choi
Opinion

Opinion

Wonsik Choi

How North Korea could be an economic powerhouse if planners look beyond its natural resources

Wonsik Choi and Jonathan Woetzel say efforts to kick-start the North Korean economy that focus on human capital, connectivity and the adoption of market mechanisms could reinvigorate South Korea, too

TOP PICKS

North Koreans cheer during a parade celebrating National Day and the 70th anniversary of the country’s foundation, in Pyongyang, on September 8. While experts have focused on North Korea’s mineral and hydrocarbon resources, nurturing its people may reap better results. Photo: EPA-EFE
READ FULL ARTICLE
Wonsik Choi

Wonsik Choi

Wonsik Choi is managing partner of McKinsey & Company’s Korea office.

Jonathan Woetzel

Jonathan Woetzel

Jonathan Woetzel is head of the McKinsey Global Institute in Asia.