100 Items, 100 Fixed Prices

Kim Tae Hong  |  2010-02-11 15:42
The North Korean authorities released the fixed prices for one hundred items on February 4th. The Daily NK, which reported on the issue at the time, has now received the full list of prices.

By announcing fixed state prices, the authorities de facto removed much of the existing market regulation, albeit that they simultaneously attempted to control prices, which had been running wild since the botched redenomination of November 30th.

On the ground in the jangmadang, The Daily NK has heard that people are selling goods for market prices, ignoring the states edict and avoiding the gaze of Peoples Safety Agency (PSA) inspectors.

The authorities are attempting to enforce the state pricing structure via the PSA and Market Management Committees. Additionally, Peoples Committees and the National Security Agency have organized so-called Price Control Squad to check market activities.

What follows is the full list of state prices, as of February 5th (Unit: won/kg unless otherwise stated. Where more than one price is stated, multiple sizes and/or qualities are available).

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Won Pyongyang Sinuiju Hyesan
Exchange Rate 8,000 8,000 8,025
Rice Price 4,800 4,900 5,200