{"id":32632,"date":"2016-05-09T12:39:01","date_gmt":"2016-05-09T03:39:01","guid":{"rendered":"http:\/\/en.dailynk.com\/en\/?p=32632"},"modified":"2020-01-17T09:25:18","modified_gmt":"2020-01-17T00:25:18","slug":"foreigncurrency-earning-companies","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/foreigncurrency-earning-companies\/","title":{"rendered":"Foreign-currency earning companies operate despite Party Congress"},"content":{"rendered":"<p class=\"MsoNormal\"><span lang=\"EN-US\">Although the North Korean authorities<br \/>\ndeclared a <a href=\"http:\/\/www.dailynk.com\/english\/read.php?num=13888&amp;cataId=nk01500\"><font color=\"#0000ff\">five-day holiday<\/font><\/a> for the duration of the 7th Party Congress, inside<br \/>\nsources have noted that foreign-currency earning enterprises dealing with China<br \/>\nhave been allegedly ordered to continue conducting business without<br \/>\ninterruption. These actions are being viewed as an attempt to reclaim funds<br \/>\nlost on the regime\u2019s exorbitant spending on the Party Congress. &nbsp;<o:p><\/o:p><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cThe<br \/>\nParty Congress opened today [May 6], and most residents throughout the country<br \/>\nwere instructed to cease working and watch the Party Congress on television.<br \/>\nBut foreign-currency earning enterprises involved in cross-border trade with<br \/>\nChina are exempt and were explicitly instructed to continue operations,\u201d a<br \/>\nsource in North Pyongan Province told Daily NK on May 6. &nbsp;<o:p><\/o:p><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><\/p>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"bbs_caption1_box\" align=\"center\">\n<tbody>\n<tr>\n<td align=\"center\"><img decoding=\"async\" src=\"https:\/\/www.dailynk.com\/english\/efile\/201605\/DNKE_1644_295691_1462764379_i.gif\"><br \/><a class=\"bbs_caption1\">In the Chinese border city of Dandong, a large truck is loaded with coal tar headed for <br \/>Pyongyang construction sites as the Party Congress opens (photo taken on May 6). <\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The source speculated that an urgent need<br \/>\nfor foreign currency is behind the decision to exempt these trading bodies from<br \/>\nthe political proceedings. Hundreds of trucks belonging to trading companies<br \/>\nhave been seen loading up with freight in China and traversing the Sino-North Korea Friendship Bridge in Dandong before entering the Sinuiju Customs House in North<br \/>\nKorea.<\/span>&nbsp;<\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The single most prevalent commodity coming<br \/>\nin from China on these trucks is coal tar, which is needed for street paving<br \/>\nand waterproofing at Pyongyang housing construction sites. Domestic North<br \/>\nKorean companies pay a premium for the material, invariably in dollars, for<br \/>\nwhich a proportion is siphoned off as much-needed funds for the cash-strapped<br \/>\nleadership.<\/span>&nbsp;<\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\"><\/p>\n<p><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In contrast to the ongoing activity by the<br \/>\nforeign-currency earning enterprises, said a separate source in North Pyongan<br \/>\nProvince, the official general markets across North Korea have remained<br \/>\nshuttered during the Party Congress, drawing continual complaints from<br \/>\nresidents who are reliant on them for survival. Special guards have been<br \/>\ncircling areas surrounding the markets, tasked with finding and punishing <a href=\"http:\/\/www.dailynk.com\/english\/read.php?num=12888&amp;cataId=nk01500\"><font color=\"#0000ff\">alley<br \/>\nmerchants<\/font><\/a> attempting to make a living, the source claimed, noting, \u201cIt is being<br \/>\nsaid that those caught will be charged with a political crime, so there haven\u2019t<br \/>\nbeen any attempts to go out and sell.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although the North Korean authorities declared a five-day holiday for the duration of the 7th Party Congress, inside sources have noted that foreign-currency earning enterprises dealing with China have been allegedly ordered to continue conducting business without interruption. These actions are being viewed as an attempt to reclaim funds lost on the regime\u2019s exorbitant spending [&hellip;]<\/p>\n","protected":false},"author":122,"featured_media":32634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[645],"tags":[],"class_list":["post-32632","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Foreign-currency earning companies operate despite Party Congress - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailynk.com\/english\/foreigncurrency-earning-companies\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign-currency earning companies operate despite Party Congress\" \/>\n<meta property=\"og:description\" content=\"Although the North Korean authorities declared a five-day holiday for the duration of the 7th Party Congress, inside sources have noted that foreign-currency earning enterprises dealing with China have been allegedly ordered to continue conducting business without interruption. 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