Tag: currency
China’s automation shift leaves N. Korean contract workers without jobs
North Koreans who anticipated a surge in contract manufacturing work following the relaxation of COVID-19 border controls are facing disappointment as opportunities continue to...
Elite N. Korean IT teams infiltrate global freelance platforms
North Korea has intensified its covert foreign currency operations by sending elite IT workers to China and Southeast Asia as freelancers.
According to a Daily...
N. Koreans abandon won as currency redenomination fears spread
Amid persistent rumors of currency redenomination, North Koreans are increasingly shunning the domestic won in favor of foreign currencies. This growing distrust is accelerating...
N. Korean won plunges, market prices double as economic divide deepens
Market prices in North Korea have roughly doubled since last January, according to Daily NK's latest findings.
The North Korean won has seen a dramatic...
N. Korea pays farm workers in devalued currency instead of grain
North Korea has taken an unprecedented step: paying farm workers in devalued local currency instead of their usual share of crops.
A source in North...
N. Koreans defy ban, mine gold on rented farmland as prices...
North Koreans are rushing to prospect for gold amid rising international prices, defying government bans through an elaborate system of bribes.
According to a source...
N. Korean markets hit new peaks as yuan and rice prices...
Market prices in North Korea are rising at an unprecedented rate, with rice costs and Chinese yuan exchange rates reaching record highs.
Daily NK's market...
N. Korea’s currency crisis forces return to barter economy
The North Korean won has plunged in value, driving exchange rates for U.S. dollars and Chinese yuan to record highs. In response, North Koreans...
N. Korea arrests major currency trader as exchange rates soar in...
North Korean authorities have arrested a prominent money changer in Hyesan, Ryanggang province, as part of a wider crackdown on illegal currency exchange amid...
N. Korean won-dollar rate stabilizes while won-yuan continues climb
The soaring won-dollar exchange rate at marketplaces in North Korea appears to have paused, at least for the moment. But the won-yuan market exchange...
