Tag: banking
N. Korean defectors in China lose savings to trusted individuals who...
Female defectors working part-time to support families back home have no recourse when Chinese nationals refuse to return money, unable to use banks or...
Pyongyang enacts comprehensive labor law to eliminate private economic activity
North Korea has enacted a comprehensive labor management law aimed at bringing all work activities under state control, including targeting people engaged in illegal...
N. Korea launches first automated banking hotline
North Korea has introduced automated call menus for banking customer service as the regime expands electronic payments to control the informal economy.
Daily NK obtained...
Fake dollars and yuan flood North Korean markets amid exchange rate...
Counterfeit foreign currency is flooding North Korean markets as the country's exchange rates skyrocket and the local currency collapses, prompting authorities to launch an...
N. Korea opens complaint hotline as public trust in banking system...
North Korea's Central Bank has ordered provincial branches to create systems that allow people to directly report problems that arise in financial services.
"After detecting...
N. Korea shutters exchange centers amid currency crisis
Foreign currency service centers installed near markets and foreign-currency shops in North Korea are being consolidated. The move appears to be driven by the...
N. Korean smartphone spills state secrets
A fascinating glimpse into North Korea's technology sector has emerged through analysis of the Samtaesong 8, a North Korean smartphone. Daily NK's examination of...
Wonsan-Kalma facilities must register foreign currency payment systems
North Korea has ordered all commercial facilities in the Wonsan-Kalma Coastal Tourist Zone to register their electronic foreign currency payment systems by May 14.
The...
Spring hunger forces N. Korean rural families to borrow grain at...
The number of "food-poor families" has recently grown as North Korea's spring hunger season intensifies, worsening the already severe seasonal food shortages.
"The number of...
N. Korea narrows gap between official and market exchange rates
The won-to-dollar market exchange rate in North Korea has more than doubled over the past year, prompting the government to ban private foreign currency...
