New opportunity to restore peace on peninsula

The meeting between US President Donald Trump and Democratic People's Republic of Korea top leader Kim Jong-un on June 30 has helped resume the talks to denuclearize the Korean Peninsula.

Still, hindrances to a smooth denuclearization process remain. The DPRK has become economically and politically more stable, and its consumer goods prices and currency exchange rate in terms of the US dollar have been relatively stable. In fact, contrary to inflation forecasts, consumer goods prices have even declined in the DPRK. But the DPRK's foreign trade has suffered severely due to the UN sanctions.

Pyongyang has built a stable political foundation that will help boost its economic development. And Kim has reformed the economic management structure by appointing many highly qualified professional officials in different positions, who have brought foreign experience and a profound understanding of the global situation to their work.