Specifically, Ri proposed that the North intensively develop information technology, nanotechnology, biotechnology, and other cutting-edge science and technologies to world-class levels.

He also stressed that a new economic structure should be established following the efforts to increase the weight and role of knowledge and high-tech industry.

"The important thing in maintaining, reinforcing and revitalizing the national economy is to put a lot of effort into completing a multifaceted and comprehensive economic structure," Ri said.

It is notable that the Rodong Sinmun, widely read by the North Korean people, ran Ri's column after North Korean leader Kim Jong-un has repeatedly emphasized the establishment of a new economic structure.

The economist called for achieving maximum benefits by adapting production and management to the demands of objective economic laws and modern science and technology.

He also urged that economic and legal conditions and the environment be reasonably improved to support the management of enterprises and state organs in charge of economic development be overhauled.

Ri has promoted the North Korean economy in interviews with foreign media, like Japan's Kyodo News and the Wall Street Journal of the United States, and attended many academic meetings abroad. (Yonhap)