Tag: finance
Why North Korean troops fear “assignments” more than combat duty
A North Korean young man performing his military service in the riot police was beaten unconscious by a group of his superiors, prompting an...
Homeroom teachers compete over student bribes as class ceremonies become status...
North Korean high school students in their final year are increasingly putting on a variety of "graduation parties," leaving parents who must now prepare...
North Korea bans foreign currency wages, mandates cash payments in revised...
North Korea revised the Labor Wages Act in May to make it illegal for workers to be paid in foreign currency. In addition, the...
North Korea launches market crackdown as Chinese imports surge
With imports rising following the recent expansion of trade between North Korea and China, North Korean authorities have launched a crackdown on the illegal...
Economic hardship pushes North Korean husbands to share household burdens
North Korean men's participation in mandatory community service projects has noticeably increased in recent years, a significant change that appears to show how the...
North Korea’s real estate moguls: How the donju are getting richer
North Korea's nouveau riche, or donju, have recently amassed significant wealth through real estate investments.
"Nowadays, people with money in Sinuiju invest in homes, buying...
N. Korea cracks down on people using Chinese contacts to smuggle...
North Korean authorities are investigating dozens of people in North Pyongan province who allegedly smuggled goods into the country through ethnic Chinese intermediaries, creating...
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...
Currency chaos hits North Korea as yuan drops but prices stay...
The exchange rate between North Korean won and Chinese yuan has crashed in the border city of Sinuiju following Kim Jong Un's visit to...
North Korea’s soaring exchange rates crush small merchants while enriching the...
Small-scale merchants in North Korean markets who conduct business in local currency say life has become "exhausting" as the country's internal exchange rates have...
