A North Korean news outlet reported on Jan. 3 about the opening of an online open tender system that allows buyers and sellers to connect with one another.
In North Korea, factories generally produce goods in line with state-set quotas. Products are then distributed to consumers by the central government. North Korea’s move to allow both buyers and suppliers to conduct business through open tenders is a notable change in the current system.
INCREASING TRANSPARENCY IN BUSINESS TRANSACTIONS
North Korean propaganda outlet DPRK Today announced that “a new technological trade service system called ‘Jagangryok’ [literally, “self-reliance”] which runs on the national intranet, has become the focus of considerable attention.”
The website added, “Through the Jagangryok system, buyers will put up a request for information on the desired products, and producers will submit information in response to the request. The buyers will then select the products that best fit their needs.”
The Jagangryok website’s menu has various links to different parts of the site, including sections devoted to bid proposals, educational materials, product delivery services, technology trade and development services, and payment services. According to the website, official tenders and bids are conducted through the bid proposal section of the website.
North Korea’s move to adopt an open tender system appears to be part of efforts to ensure transparency and fairness in product transactions.
IMPROVING THE BUYER/SELLER RELATIONSHIP
The bid proposal section of the website, as reported by DPRK Today, promises to ensure “fast and accurate transactions for both buyers and suppliers” and improve “cooperation, trust and reliability.”
“The main feature of Jagangryok is that it enables the faster development and production of more technologies and hi-tech products while simultaneously saving the time, effort, and money of factories, enterprises, and research agencies,” DPRK Today further reported. “It’s an electronic system built on a computer network that enables all users to get the most out of buying, selling, and conducting custom orders.”
Indeed, the Jagangryok website includes a section where various buyers and sellers can connect with each other.
According to DPRK Today, the Jagangryok system also includes a “virtual parking lot,” which helps companies with delivery vehicles transport their products to customers. Another section of the website allows customers to make custom orders.
*Translated by Violet Kim
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