Tag: foreign currency
N. Korean overseas workers face systematic control from selection to workplace
With Kim Jong Un's visit to China for the 80th anniversary of China's victory over Japan drawing attention to strengthened North Korea-China cooperation, the...
North Korean herb smugglers struggle as China tightens quality controls
North Korean smugglers are facing significant difficulties as Chinese partners increasingly refuse to accept shipments of medicinal herbs.
"In Hyesan, medicinal herb exports—which used to...
Cabinet price controls backfire as North Korean market costs surge
The recent surge in North Korean marketplace prices appears to stem from government-ordered price controls that have had the opposite of their intended effect.
Multiple...
Kim Jong Un’s China visit: Fear of purges lurks behind diplomatic...
North Korean leader Kim Jong Un has visited China again after six years and eight months. This trip drew particular attention as his debut...
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...
North Korea audits China-based traders as foreign currency reserves dwindle
North Korean trading representatives in China are facing unprecedented scrutiny as party officials from Pyongyang conduct extensive audits, further restricting their already constrained operations.
A...
N. Korea boosts company creation before party anniversary
North Korea's Cabinet has ordered people's committees in major cities—including Nampo, Rason, Sinuiju and Wonsan—to dramatically increase the number of approved companies ahead of...
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 launches luxury river cruises to earn dollars and boost...
Circular sightseeing boats recently launched on Pyongyang's Taedong River represent a strategic blend of foreign currency generation and regime promotion, offering wealthy North Koreans...
Market chaos in N. Korea: Currency crisis devastates trade
A wave of inflation is crushing North Korean markets as exchange rates soar and the local currency plummets. The dollar's value has jumped 20-30%...
