Research Paper (postgraduate) from the year 2023 in the subject Business economics - Business Management, Corporate Governance, grade: 85, University of Essex (School of Business), course: MBA Business Management, language: English, abstract: North Korea is one of the most isolated countries in the world, with a centrally planned economy that has stifled entrepreneurial activity for decades. It is known for its strict laws and regulations under communist rule since the end of the Second World War. The government controls every aspect of the economy, and entrepreneurial activity is severely restricted. However, with recent changes in the country's economic policies, the government has recently taken some measures allowing start-up entrepreneurs to emerge and contribute to the economy's growth. Encouraging entrepreneurial activity in North Korea, however, comes with significant challenges.