North Korean trading companies operated by several organs have been selling steel to China in exchange for food. <\/p>\n
One Chinese trader who does business with North Korea reported to The Daily NK on Monday, \u201cChina-based North Korean workers in charge of trading with China for Cheongusan Trading Company (under the Escort Command), say that this year Chosun is expanding the volume of its steel sales with China.\u201d <\/p>\n
The trader said, \u201cIn November last year, the analysis table of steel quality was delivered to us, and accordingly a contract has also already been signed.\u201d He added, \u201cIn Chosun, the company is waiting for a permit to trade from an upper organ after having loaded materials on freight trains.\u201d <\/p>\n
He explained further, \u201cFor the price of the steel, Chosun has asked for rice, flour, noodles and also construction materials,\u201d adding, \u201cFood in bulk can enter Chosun.\u201d <\/p>\n
He explained that since North Korea is facing a serious lack of food, cement and other construction materials due to isolation from the international community, the country is trying to barter steel for food with China, from which the North is able to import. <\/p>\n
Another trader in China verified the story, explaining, \u201cRecently in Dandong, workers from Kangsung General Trading Company (under the General Staff) and other companies visited China for the purpose of selling steel.\u201d <\/p>\n
He added, \u201cFrom now on, our company is going to do only steel trade with Chosun. We have decided not to do business in other things because our experiences have shown that there is no credit there.\u201d <\/p>\n
He went on, \u201cNorth Korean trading units may have suffered from limitations put on items by Chinese companies,\u201d going on, \u201cIf Chosun does not make a deal with us, they will starve to death this year. Even though they emphasize independent rehabilitation, when have they ever been rehabilitated?\u201d <\/p>\n
North Korea\u2019s media frequently emphasizes the glorious production of \u201cJuche\u201d steel at Kim Chaek Steel Mill and Gangsun Steel Mill. Indeed, the Common Editorial issued on the first day of this year stated that, \u201cBy the power of the realization of the faith and model of Kim Steel (steel from Kim Chaek Steel Mill) and Juche steel, let\u2019s have waves of victories.\u201d <\/p>\n
According to KOTRA, South Korea\u2019s trade statistics agency, from January to October, 2010, North Korea exported steel to China worth $82 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
North Korean trading companies operated by several organs have been selling steel to China in exchange for food. One Chinese trader who does business with North Korea reported to The Daily NK on Monday, \u201cChina-based North Korean workers in charge of trading with China for Cheongusan Trading Company (under the Escort Command), say that this […]<\/p>\n","protected":false},"author":147,"featured_media":14216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[645],"tags":[],"class_list":["post-14214","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"\n