Signs of anxiety have been observed in
\ncertain areas near iron and steel mills as well as coal mines following strong
\ninternational sanctions implemented against North Korea. These come as mine workers seek to secure their finances by moving to smaller and more affordable
\nhousing in anticipation of a prolonged period of stalled wages and tighter budgets at home. <\/p>\n
\u201cI haven\u2019t seen any panic buying in Sources in Ryanggang Province corroborated The houses have been offered at relatively Mining workers have already seen their The abrupt halt on what had already been \u201cRice prices are not falling yet, but fewer There are also voices of concern that the \u201cIt seems the industry workers are Signs of anxiety have been observed in certain areas near iron and steel mills as well as coal mines following strong international sanctions implemented against North Korea. These come as mine workers seek to secure their finances by moving to smaller and more affordable housing in anticipation of a prolonged period of stalled wages and […]<\/p>\n","protected":false},"author":122,"featured_media":32553,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[645],"tags":[],"class_list":["post-32551","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"\n
\nresponse to the sanctions, but an increasing number of people living in coal
\nmining areas like Hyesan and Musan are trying to sell their homes,\u201d a source
\nfrom North Hamgyong Province told Daily NK on Monday. \u201cIn one particular
\nneighborhood, there was news that ten households are making efforts to sell
\ntheir homes.\u201d<\/span> <\/p>\n
\nthis news.<\/span> <\/p>\n
\ncheap prices, ranging from 10,000 to 20,000 RMB (1.3 to 2.6 million KPW), but
\n\u201cnot a single person\u201d has shown interest over the past month since they have
\nbeen put up for sale, the source noted.<\/span> <\/p>\n
\nwages evaporate after sanctions were implemented, as salaries were paid in cash
\nfrom coal exports. With the funding channels cut off, state-run companies are
\nno longer able to provide for their workers, the source explained.<\/span> <\/p>\n
\nintermittent payments has thrown workers\u2019 livelihoods into greater
\nuncertainties. In addition, the halt on salary payments is dragging down
\nconsumption and demand in the markets.<\/span> <\/p>\n
\npeople are looking to buy goods in significant quantities,\u201d the source said,
\nadding that complaints are surfacing about poor sales in the market.<\/span> <\/p>\n
\ncountry\u2019s economy will face a severe downturn if the relatively stronger
\nindustries such as iron, steel, and coal production are forced to shut down.<\/span> <\/p>\n
\nrealizing that the days when the state sold minerals to prop up their
\nlivelihoods are coming to an end,\u201d the source surmised. \u201cI hear people who are
\nanxious because of the sanctions saying that it\u2019s now time to sit on the
\nforeign currency (USD, CNY) they have for later use when things get tough.\u201d<\/span> <\/p>\n","protected":false},"excerpt":{"rendered":"