This English translation is an abbreviated and edited version of KINU Research Paper, The Changes in North Korea’s Fiscal and Financial System in the Kim Jong-Un Era, Ji Young Choi et al. (Seoul: Korea Institute for National Unification, December 2022). The analysis, comments, and opinions presented in this paper are those of the authors and do not necessarily represent the views of the Korea Institute for National Unification.

1. Research Background and Introduction 2. Socialist Fiscal and Financial Systems and North Korea A. Socialist Fiscal and Financial Systems B. North Korea’s Fiscal and Financial Systems 3. Changes in Fiscal and Financial Reforms at the Beginning of the Kim Jong-un Regime 4. Prolonged Sanctions and Changes in Fiscal and Financial Systems A. Changes in Fiscal Systems B. Changes in Financial Systems 5. Changes in North Korea’s Fiscal and Financial Systems Viewed through Economic Research