North Korea has given rare access to staff from the UN World Food Program, which is there to assess the seriousness of food shortages. In addition to North Korea, the Program is also visiting more than 50 other countries. Many fear that the country may be on the brink of starvation.

If Seoul had its way, North Korea would get 50,000 tons of corn from South Korea to help alleviate the effects of the food shortage there. However, Pyongyang has yet to respond to the offer made last month. North Korea’s good food shortage has worsened this year, after floods damaged the countryside in 2007.

North Korea may be coming close to mass starvation in the country again. The food distribution system in the state is breaking down, making the people rely more and more on informal or illegal markets for grain. The famine is consistent with recent extreme price rises.

Korean companies relying heavily on exports, such as Hyundai Motor, are struggling with the strengthening won. To cope with drastic currency differences, minimize possible losses, and remain competitive in the automotive market, Hyundai must reduce costs by 20 percent during the next 2 years, drop prices in competitive markets and cut 2007 sales targets.

The won-dollar exchange rate dipped under 900 for the first time in 10 years, but managed to close at 900.7 to the dollar. Foreign banks predict further falls in the exchange rate between the won and dollar stating that, "it's just a matter of degree, not the direction."

On this coming November 2007, Cambodia will be formally visiting North Korea to sign an investment and sea transportation cooperation treaties. Cambodia regards these agreements as an important opportunity for both countries’ economic and political cooperation. The official 4 days visit will include various meetings with the North Korean's government officials.

North Korea is planning to invest in Cambodia to expand its markets entrance to other countries in the world. By investing in Cambodia, North Korea will be able to expand its opportunity to produce goods and sell them to other larger countries. In response to the investment proposal, the Cambodia Prime Minster and other senior government will be officially meeting North Korea Prime Minister, Kim Yong-Il, at the beginning of November 2007 to discuss on other potential details.

The Korean business community proposes the implementation of daylight-savings time during summer months, citing the change would lead to energy savings and increases in productivity. Think Tanks such as the Korean Development Institute and the Korea Energy Economics Institute disagree, however, reporting that there is no evidence that daylight-savings time produces substantial economic benefits.

The tense relationship of Japan and North Korea will hopefully begin to mollify as representatives from both nations have initiated talks in Ulan Bator concerning North Korea’s nuclear program and past abductions of Japanese civilians by North Korean agents. This meeting is one of many working sessions established following the six nation deal agreed upon in February that aimed to disarm and dismantle Pyongyang’s nuclear programs. Japan is expected to take a hard stance on the kidnappings, where a resolution is imperative in order for both nations to consider normalized relations. North Korea is expected to seek a settlement for the Japanese occupation of the Korean peninsula from 1910 to 1945.

According to statements made at the Asia-Pacific summit in Sydney by U.S. Assistant Secretary of State Christopher Hill, North Korea has invited experts from the U.S., China and Russia to survey disabled or soon to be disabled nuclear sites. The inspectors will travel to North Korea on September 11-15 to examine the progress being made to identify and dismantle the communist country’s nuclear facilities. In July, North Korea shut down its Yongbyon nuclear reactor and allowed international nuclear inspectors in the country for the first time in 5 years in exchange for energy and economic assistance.