North Korea
North Korea has the structural profile of a relatively industrialized country where nearly half of the Gross Domestic Product is generated by industry and human development is at medium levels. Purchasing power parity (PPP) GDP is estimated at $40 billion, with a very low per capita value of $1,800. In 2012, Gross national income per capita was $1,523, compared to $28,430 in South Korea. The North Korean won is the national currency, issued by the Central Bank of the Democratic People's Republic of Korea.
North Korea
The economy is heavily nationalized. Food and housing are extensively subsidized by the state; education and healthcare are free; and the payment of taxes was officially abolished in 1974. A variety of goods are available in department stores and supermarkets in Pyongyang, though most of the population relies on small-scale "jangmadang" markets. In 2009, the government attempted to stem the expanding free market by banning jangmadang and the use of foreign currency, heavily devaluing the won and restricting the convertibility of savings in the old currency, but the resulting inflation spike and rare public protests caused a reversal of these policies. Private trade is dominated by women because most men are required to be present at their workplace, even though many state-owned enterprises are non-operational.