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2017.06.28
| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,070 | 8,050 | 8,095 |
| Rice Price | 5,800 | 6,000 | 5,900 |
The South Korean government has declared that a report released today by a domestic media outlet in which it was suggested that North Korea has officially announced the abolition of its system of state distribution is unlikely to be true.
A Ministry of Unification official explained, “Were they to officially abolish the distribution system, the bedrock of a socialist planned economy, North Korea would be rejecting its own self. They will not be able to officially abandon it.”
The official continued, “At the time of the 2002, July 1st economic management improvement measures, North Korea discontinued the distribution system alongside increasing prices, but at no time was it ever written down that they were officially abandoning it.”
A second anonymous government source added, “North Korea is suffering real difficulties in terms of distribution due to the food crisis, but is continuing to provide distribution to Pyongyang and the like. They have not institutionally abandoned the distribution system.”
“We know they are making some moves [toward economic change] and are watching carefully. However, we do not believe that they are in the middle of implementing overall improvement measures,” the Ministry of Unification source also noted. However, the source did note that experimental changes do seem to be underway.
According to Daily NK sources, in July, North Korea handed down information to Party cadres on the so-called ‘6.28 Policy’, aka ‘On the establishing of a new economic management system in our own style’. However, this inside information did not contain any suggestion of abandoning the state distribution system on an official basis.
A Ministry of Unification official explained, “Were they to officially abolish the distribution system, the bedrock of a socialist planned economy, North Korea would be rejecting its own self. They will not be able to officially abandon it.”
The official continued, “At the time of the 2002, July 1st economic management improvement measures, North Korea discontinued the distribution system alongside increasing prices, but at no time was it ever written down that they were officially abandoning it.”
A second anonymous government source added, “North Korea is suffering real difficulties in terms of distribution due to the food crisis, but is continuing to provide distribution to Pyongyang and the like. They have not institutionally abandoned the distribution system.”
“We know they are making some moves [toward economic change] and are watching carefully. However, we do not believe that they are in the middle of implementing overall improvement measures,” the Ministry of Unification source also noted. However, the source did note that experimental changes do seem to be underway.
According to Daily NK sources, in July, North Korea handed down information to Party cadres on the so-called ‘6.28 Policy’, aka ‘On the establishing of a new economic management system in our own style’. However, this inside information did not contain any suggestion of abandoning the state distribution system on an official basis.
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