Collapse of the socialist system which began mainly with former Soviet Union since the late 1980"s brought about a big change in all the socialist states including Eastern Europe. Especially, this phenomenon remarkably appeared in economic aspect; existing socialist states which recognized limit of planned economy; and they promoted an extensive privatization policy as a key means.
This study reviewed a theory of system transformation as well as privatization and then, drew an implication through comparison of THA activities before and after German reunification. Especially, as the case of East German and Bulgaria, it is deemed that North Korea raises efficiency of national-owned properties through operation of organization exclusively for the properties and that it will contribute to national economy and further to sustainable development of unified Korea.
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