North Korea’s Puksae Electronic Trading Company has begun drafting a report about the business of its trade delegation to China over the past year, a source in North Korea told Daily NK on Monday, speaking on condition of anonymity for security reasons.
Puksae Electronic Trading Company, which imports Chinese parts to develop and produce mobile phones, media players and other electronic devices for the North Korean market, has employees stationed in China and other foreign countries.
“Puksae Electronic Trading Company’s trade delegation in China is working on a report summing up its business activities over the past year after being instructed by the home office [in Pyongyang] to submit the report, along with supporting documentation, by Dec. 9,” a source in China told Daily NK.
“Members of the trade delegation to China explained that the report would be used to explore the feasibility of carrying out projects planned for next year and to determine how to divide trade assignments and which employees should be shuffled out.”
In other words, this year’s business report will serve as the basis for making trade plans for next year and replacing underperforming overseas workers. That suggests the company will take overseas workers’ abilities into account in personnel reassignments.
The company’s trade delegation in China has already been informed by the home office that it will be notified about the final personnel assignments at the end of January 2024, after the party committee at the home office has reviewed its business report, the source said.
Puksae Electronic Trading Company has also reportedly asked the trade delegation for information about the financial status of the Chinese traders who were contracted to carry out this year’s business projects. The delegation is also supposed to have the Chinese traders look into the trade situation and the conditions for new contracts and transactions in the coming year.
“Given its responsibility for developing and manufacturing new electronic devices next year, Puksae Electronic Trading Company is basically laying the groundwork to greatly expand imports of the key parts and producer goods it needs from China,” the source said.
North Koreans are keenly interested in new releases of media players and other electronic devices, regardless of the high prices.
The North Korean authorities are urging Puksae Electronic Trading Company and other trading companies operating in China to import Chinese-made parts to develop and manufacture more electronic devices that can be released and sold for foreign currency. That aids the government’s goal of bringing privately held foreign currency under its control.
Translated by David Carruth. Edited by Robert Lauler.
Daily NK works with a network of sources who live inside North Korea, China and elsewhere. Their identities remain anonymous due to security concerns. More information about Daily NK’s reporting partner network and information gathering activities can be found on our FAQ page here.
Please direct any comments or questions about this article to dailynkenglish@uni-media.net.
