Authentic North Korea News, Analysis and Features
Today, the North Korean people prefer Chinese renminbi and US dollar over North Korean won. But there is another rising trend in the North Korean financial industry. Currency grows shabby with repeated use, but foreign bills in North Korea must go on being used for they cannot be replaced. If a bill becomes too worn [...]
State-society relations in the rise of North Korea’s market economy “North Korean economy surrenders to foreign currency invasion,” reads a Reuters article published over the weekend. The article tells the story of North Korea’s transition to what South Korean experts call “Economic Dualism”: a part planned, part private economy. Notably, the article emphasizes that the [...]
Evidence suggests DPRK is feeling bite of latest sanctions A detailed set of guidelines for making foreign currency offerings to the DPRK has just been issued to overseas employees of North Korean companies and other North Korean citizens on business abroad, according to our diplomatic correspondent. The guideline for making foreign currency offerings “in support [...]
The North Korean state appears to have reinstated the provision of food rations to ordinary North Koreans, which came to a halt in the mid-late 90s. According to our North Korean sources, the distribution of food rations was resumed nationwide beginning March 1st. Warehouse No.2, which holds wartime (military mobilization) rice, was opened to provide [...]
The skyscraper is the modern version of the ancient monument, which displayed the power and wealth of the city or state in question and functioned as a landmark for the region. The modern skyscraper often plays an additional role, by supporting economic growth in the area. But not all skyscrapers come with a guarantee of [...]
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