| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,070 | 8,050 | 8,095 |
| Rice Price | 5,800 | 6,000 | 5,900 |
Construction projects highlighting the achievements of Kim Jong Eun have increased dramatically in North Korea, while social overhead capital (SOC) projects have decreased, a recent Ministry of Unification report suggests.
According to the “Recent Economic Trends in North Korea” report released yesterday, various sports and recreational facilities have been built in Pyongyang and other major cities since the start of Kim Jong Eun’s rule.
The Pyongyang Folklore Park located at the foot of Mt. Taesong was completed last September, and construction at the Hae Dang Hwa restaurant on the banks of the Daedong River wound up in April. The Pyongyang Gymnasium has also recently undergone significant refurbishments.
Additionally, the Masikryeong Ski Resort located in Kangwon Province broke ground in February this year. Construction of the resort's 11 slopes, underground parking facilities and skating rink is currently ongoing.
A Ministry of Unification official stated that, "These projects are closely linked with the promotion of Kim Jong Eun's achievements and his image as a man loved by his people. They also aim to establish basic facilities needed for the tourist industry, rather than meeting any real demand from the North Korean people.”
"The construction of parks in Pyongyang was heavily emphasized during Kim Jong Eun's April 27th, 2012 speech on land management projects,” the official added.
Explaining the decrease in SOC projects since Kim Jong Eun came to power, the official said, “Projects like the Huicheon Power Station and the Dancheon Port were all completed during the Kim Jong Il era, so they didn’t form a large portion of the regime's ‘results’ last year."
The report also noted that this year’s $4.01bn trade volume between North Korea and China showed no significant change from last year’s $4.1bn. While exports to China increased by 8% to $1.89bn, imports dropped by 6% to $2.2bn.
According to the “Recent Economic Trends in North Korea” report released yesterday, various sports and recreational facilities have been built in Pyongyang and other major cities since the start of Kim Jong Eun’s rule.
The Pyongyang Folklore Park located at the foot of Mt. Taesong was completed last September, and construction at the Hae Dang Hwa restaurant on the banks of the Daedong River wound up in April. The Pyongyang Gymnasium has also recently undergone significant refurbishments.
Additionally, the Masikryeong Ski Resort located in Kangwon Province broke ground in February this year. Construction of the resort's 11 slopes, underground parking facilities and skating rink is currently ongoing.
A Ministry of Unification official stated that, "These projects are closely linked with the promotion of Kim Jong Eun's achievements and his image as a man loved by his people. They also aim to establish basic facilities needed for the tourist industry, rather than meeting any real demand from the North Korean people.”
"The construction of parks in Pyongyang was heavily emphasized during Kim Jong Eun's April 27th, 2012 speech on land management projects,” the official added.
Explaining the decrease in SOC projects since Kim Jong Eun came to power, the official said, “Projects like the Huicheon Power Station and the Dancheon Port were all completed during the Kim Jong Il era, so they didn’t form a large portion of the regime's ‘results’ last year."
The report also noted that this year’s $4.01bn trade volume between North Korea and China showed no significant change from last year’s $4.1bn. While exports to China increased by 8% to $1.89bn, imports dropped by 6% to $2.2bn.
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