Jangmadang

Jangmadang (Korean: 장마당), Korean for 'market grounds', are the North Korean farmers' markets, local markets and black markets. Since the North Korean famine, they have formed a large informal economy. Since the 1990s, the government has become more lenient towards them; however, merchants still face heavy regulations. Currently a majority of North Koreans are dependent on markets for their survival. There have been speculations on the possible role of black markets in causing reforms of the North Korean government and its economy, as happened in China.

Jangmadang

Jangmadang (Korean: 장마당), Korean for 'market grounds', are the North Korean farmers' markets, local markets and black markets. Since the North Korean famine, they have formed a large informal economy. Since the 1990s, the government has become more lenient towards them; however, merchants still face heavy regulations. Currently a majority of North Koreans are dependent on markets for their survival. There have been speculations on the possible role of black markets in causing reforms of the North Korean government and its economy, as happened in China.