{"id":51557,"date":"2022-05-06T15:37:13","date_gmt":"2022-05-06T06:37:13","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=51557"},"modified":"2022-05-06T15:45:59","modified_gmt":"2022-05-06T06:45:59","slug":"north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/","title":{"rendered":"N. Korea issues new KPW 50,000 cash vouchers for use in commercial transactions"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">North Korean authorities have recently issued KPW 50,000 cash vouchers, or <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\">, for use in commercial transactions with a view to resolve problems related to cashless bank slips.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a high-ranking source in North Korea on Tuesday, North Korean authorities recently ordered provincial enterprises ranked class 4 and below to actively use the newly issued <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When buying supplies or products, North Korean enterprises generally use cashless bank slips (<em>haengpyo<\/em>) that allow the transfer of money within a set collateral limit. Cashless bank slips are a kind of guarantee, a certificate of a guaranteed payment from a bank.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, North Korean authorities believe that enterprises have been overusing and misusing the bank slips, which is leading to not only the waste of resources, but also rampant corruption with public money diverted to personal use.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, when a company needs seven tons of steel costing USD 95 a ton, it would issue a slip for USD 700 instead of the actual cost of USD 665, with the company or cadres pocketing the remaining USD 35.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The authorities also believe that with enterprises relying on bank slips rather than cash, companies are buying more supplies than they need, leading to waste.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The source said to resolve this issue, North Korean authorities have issued <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> of KPW 50,000, a relatively small denomination for corporate transactions. They have also advised provincial enterprises to use them instead of bank slips.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By encouraging enterprises to use the <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\">, the authorities intend to create a clear paper trail and prevent the misuse of resources and money.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This goal contrasts with the KPW 5,000 <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> the authorities <a href=\"https:\/\/www.dailynk.com\/english\/north-korea-elusive-money-vouchers-a-z\/\">issued to absorb private cash holdings<\/a> and to bolster state finances.<\/span><\/p>\n<figure id=\"attachment_49582\" aria-describedby=\"caption-attachment-49582\" style=\"width: 300px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-49582\" src=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589-300x141.jpg\" alt=\"\" width=\"300\" height=\"141\" srcset=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589-300x141.jpg 300w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589-696x327.jpg 696w, https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589.jpg 741w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><figcaption id=\"caption-attachment-49582\" class=\"wp-caption-text\">A picture of KPW 5,000 foreign currency vouchers currently in circulation in North Korea. (Daily NK)<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Daily NK <\/span><a href=\"https:\/\/www.dailynk.com\/english\/north-korea-steps-up-efforts-increase-public-trust-money-vouchers\/\"><span style=\"font-weight: 400;\">reported last November<\/span><\/a><span style=\"font-weight: 400;\"> that North Korean authorities held lectures for Central Committee cadres, Central Bank officials, cadres from state-run shops, and other workers to explain that \u201c<\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> are <\/span><i><span style=\"font-weight: 400;\">supyo<\/span><\/i><span style=\"font-weight: 400;\">.\u201d <\/span><i><span style=\"font-weight: 400;\">Supyo <\/span><\/i><span style=\"font-weight: 400;\">are checks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">North Korean authorities have apparently had plans to expand the use of <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> to replace bank slips since late last year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, given the widespread use of bank slips for corporate transactions, the authorities are encouraging the use of the new <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> even as they are used alongside the bank slips, rather than the outright suspension of issuing bank slips.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, North Korea is allowing large enterprises ranked class 3 and above to continue using the existing system of bank slips. However, the authorities plan to reform their usage and scale within the year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Enterprises based in the country\u2019s provinces are reacting negatively to the order, complaining that yet another needless payment method has emerged.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In particular, they complain that the state\u2019s itemization and scrutinization of corporate transactions could restrict production growth at their companies. Boosting production is a government priority that requires companies to store reserve supplies; however, if the companies are only allowed to buy exactly what they need, they lose flexibility in the use of their resources. The companies are worrying that production could fall if they are unable to immediately respond to unforeseen business circumstances.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lim Song, an economist with the North Korean Economy Team of the Bank of Korea\u2019s Economic Research Institute in Seoul, said that what is currently known about the <\/span><i><span style=\"font-weight: 400;\">donpyo<\/span><\/i><span style=\"font-weight: 400;\"> suggests they mix the characteristics of bank slips and cash.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lim added, however, that if the new KPW 50,000 vouchers more strongly connote the role of bank slips, they will have an impact on North Korea\u2019s state and market economy.<\/span><\/p>\n<p><b><i>Translated by David Black. Edited by Robert Lauler.\u00a0<\/i><\/b><\/p>\n<p><em>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/em><\/p>\n<p><em><a href=\"https:\/\/www.dailynk.com\/20220503-4\/\">Read in Korean<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>North Korean authorities have recently issued KPW 50,000 cash vouchers, or donpyo, for use in commercial transactions with a view to resolve problems related to cashless bank slips.\u00a0 According to a high-ranking source in North Korea on Tuesday, North Korean authorities recently ordered provincial enterprises ranked class 4 and below to actively use the newly [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":49582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67,645],"tags":[],"class_list":["post-51557","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>N. 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Korea issues new KPW 50,000 cash vouchers for use in commercial transactions","og_description":"North Korean authorities have recently issued KPW 50,000 cash vouchers, or donpyo, for use in commercial transactions with a view to resolve problems related to cashless bank slips.\u00a0 According to a high-ranking source in North Korea on Tuesday, North Korean authorities recently ordered provincial enterprises ranked class 4 and below to actively use the newly [&hellip;]","og_url":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/","og_site_name":"North Korea News \u2014 Daily NK | Latest DPRK Updates 2026","article_published_time":"2022-05-06T06:37:13+00:00","article_modified_time":"2022-05-06T06:45:59+00:00","og_image":[{"width":741,"height":348,"url":"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589.jpg","type":"image\/jpeg"}],"author":"Seulkee Jang","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Seulkee Jang","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/#article","isPartOf":{"@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/"},"author":{"name":"Seulkee Jang","@id":"https:\/\/www.dailynk.com\/english\/#\/schema\/person\/194958ce83d17408851c1d378fa83857"},"headline":"N. 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Korea issues new KPW 50,000 cash vouchers for use in commercial transactions - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026","isPartOf":{"@id":"https:\/\/www.dailynk.com\/english\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/#primaryimage"},"image":{"@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589.jpg","datePublished":"2022-05-06T06:37:13+00:00","dateModified":"2022-05-06T06:45:59+00:00","breadcrumb":{"@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.dailynk.com\/english\/north-korea-issues-new-kpw-50-000-cash-vouchers-use-commercial-transactions\/#primaryimage","url":"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589.jpg","contentUrl":"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2021\/09\/\ubd81\ud55c-\ub3c8\ud45c2021\ub144-\ubc1c\ud589.jpg","width":741,"height":348,"caption":"A picture of the foreign currency vouchers currently in circulation in North Korea. 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