The fact that North Korea is planning to allow China open access to its port in Rajin for another ten years is closely related to the failed redenomination, says expert analyst Song Dae Sung, President of the Sejong Institute.
Speaking on a Pyeonghwa Broadcasting Corporation (PBC) program this morning, Song explained, “With this, North Korea is acknowledging the failure of the currency redenomination, which was supposed to improve its economic situation. International experts have analyzed it as a key element in actually making the North Korean situation worse.”
He went on, “I presume that the plan is acceptable to both China and North Korea from a cooperative point of view; it is not to bring about denuclearization, but anti-denuclearization. Through this measure, North Korea’s reliance on China will only grow greater.”
On the same show, Song also gave his view of North Korea’s vocal reaction to Key Resolve, the current U.S.-South Korea joint military drill. “We don’t need to bother with North Korea’s conventional criticisms,” he said dismissively, pointing out that “North Korea criticizes us whenever we carry out a military drill.”
Song explained the intention behind North Korea’s bellicose rhetoric, calling it simply an attempt “to urge on anti-American movements in South Korean society, and to emphasize that ‘the U.S. is too belligerent’ to international society.”
Finally, on the food crisis, he asserted, “The food shortage this spring must be very serious, since the North Korean Red Cross has just accepted 10,000 tons of corns while the North, with its great pride, is declaring the probability of massive retaliation against South Korea.
