2017 marks the 5th year of Kim Jong Un’s reign, and evaluating the economic performance during this period is meaningful in that by doing so we can measure the future direction of the North Korean economy. However, despite the great efforts made to survey the North Korean economy, there is still only a superficial understanding regarding its economic size, industrial policies, industrial situation, and factories. The purpose of this study is to provide a new type of perspective through analyzing new kinds of data to help evaluate the North Korean economy. To this end, we provide a comparison between the industrial policies of the Kim Il Sung and Kim Jong Il regimes and the industrial policies emphasized since Kim Jong Un came to power. We then analyze the North Korean import and export data by industry, technology level, and utility purposes. Finally, this research considers the changes in North Korea’s industrial policy and import and export statistics to assess the economic situation of North Korea and the outcomes of its industrial policy after Kim Jong Un’s incumbency, and predicts the effect of sanctions on North Korea’s economy. Specifically, Chapter 2 provides an analysis of the transition process of North Korea’s industrial policies and those that have been emphasized after Kim Jong Un came into power. Section 1 analyzes the implications of North Korea’s foreign relations development strategy in light of its industrial policy. We show how the establishment and emphasis of the three major policy lines for North Korean industrial policies (i.e., the policy of autonomous national economic construction, the policy of parallel development of economy and nuclear weapons (byungjin policy), and the policy of prioritizing heavy industry development while simultaneously developing agricultural and light industries) evolved based on changes in its external circumstances (e.g., the inter-Korean armistice, Sino-Soviet dispute, competition with South Korea, collapse of the socialist economy). Section 2 summarizes the industrial policies of the Kim Jong Un regime, and then identifies the commonalities and differences vis–à–vis the previous Kim Il Sung and Kim Jong Il regimes. Based on a content analysis of the New Year’s address and Rodong Sinmun, North Korea’s state media, as well as interviews with North Korean defectors and people who have visited North Korea, we explain the pragmatic nature of emphasizing short-term achievements and avoiding large-scale heavy industries investment, focusing on the parallel pursuit of economic construction and nuclear armed forces construction, which are the characteristics of the Kim Jong Un regime. Chapter 3 jointly analyzes the changes in industrial policy and import composition. Section 1 summarizes the industrial policies proposed in Chapter 2 and summarizes the various issues and solutions that can be raised when linking each industrial policy with changes in import composition. In addition to industrial policies, we also considered the proliferation of the market and foreign currency usage in North Korea, economic growth and increase of income, preference for science and technology (resource consumption and production cost reduction), and inflation. In Section 2, we analyze the changes in import composition with three methodologies. First, we analyze the characteristics of the change in imports from before Kim Jong Un’s leadership to the early years of his leadership. There are three time points in this respect: 2005 (during Kim Jong-il’s rule), 2010 (end of the Kim Jong-il regime), and 2015 (the beginning of Kim Jong Un’s rule). Group 1 consists of items whose imports decreased in both 2010 and 2015, Group 2 consists of items whose imports increased in both 2010 and 2015, Group 3 consists of items that increased in 2010 but decreased in 2015, and Group 4 consists of items that decreased in 2010 but increased in 2015. Industrial categories (grouped in 2 digit HS code levels) consist of twelve types - agriculture, fisheries, chemicals, electronics, wood, machinery, minerals, plastics and rubber, metals, clothing, transport equipment and others. Second, North Korean imports are analyzed in terms of changes in the share of intermediate goods, capital goods, and consumer goods. Through this, we confirm whether North Korea has succeeded in implementing the policies of localization and normalization of industry, which it has emphasized. Third, we analyze the technology level of imported goods in North Korea. The level of technology was analyzed from the three aspects of “change of technology level by industry,” “change of technology level by purpose of use,” and “change of technology level by both industry and purpose.” In short, North Korea shows the characteristics of industrial and technological development at a level similar to South Korea in the 1970s and 1980s. Through analyzing the level of technology in North Korean import goods, we discover how North Korea is utilizing advanced overseas technology. Chapter 4 analyzes changes in the composition of exports. In addition, we summarize the changes in industrial and trade policies prompted by changes in external conditions of countries similar to those of North Korea. Based on the above discussion, we also show how sanctions against North Korea would impact its economy. Chapter 4 differs from Chapter 3 in that exports are affected by factors compared to imports. While imports are affected by changes in domestic industrial policies, socioeconomic economic activities and consumption trends, exports are mainly influenced by external factors such as strengthened international sanctions against North Korea and the slowing growth of the Chinese economy. Section 1 summarizes the industrial policies linked to exports. In Section 2, we analyze the changes in the composition of each group by industrial sector, the change of percentages by usage purpose, and the change of technology level among industries in accordance with the three methodologies of Section 2, Chapter 3. In Section 3, we select a transitional country with similar economic and industrial policies to North Korea, and then investigate the industrial policy that the state has pursued to respond to changes in its trade environment (reduction in economic income of major trading partners, economic crisis, etc.), after which we analyze the consequent ripple effect. Finally, Section 4 analyzes the effects of international sanctions on the North Korean economy. In Chapter 5, we analyze the linkages between foreign trade and industrial policies, and propose policies to normalize inter-Korean economic cooperation. Section 1 assesses and forecasts the present and future of the North Korean economy. At present, the North Korean economy seems to be gradually recovering from poverty and chronic economic downturn, albeit very slowly. As long as the strengthening of sanctions against North Korea continues, it is unlikely that its economy will continue on the path of normalization and improvement. Section 2 assesses the outcome of Kim Jong Un’s industrial policy. We find that the industrial policy newly emphasized by the Kim Jong Un regime is projected to some degree on the changes in import statistics. However, due to limitation of data, we could not clearly distinguish Kim Jong Un ’s byungjin policy from Kim Il Sung’ s and Kim Jong Il ’s policies. Section 3 predicts the impact that sanctions against North Korea will have on its economy. In the mid- and long-term, sanctions against North Korea will inevitably have a negative impact on its economy. However, the short-term impact is likely to depend on how North Korea responds. Section 4 suggests proposals for inter-Korean economic cooperation based on the above discussion.