[imText1]North Korean government has increased security this year in regards their trade with China. The double book keeping process and the nationally permitted import quota for individuals are two main areas in strict surveillance. <\/p>\n
Amongst the North Korean traders, it has become customary to keep double booking, with personal and national account books of revenue. The traders would export the nationally produced goods to China under the contract with their Chinese dealer to record a lower price than the real exported price. This has resulted in a huge profit for the North Korean traders. <\/p>\n
What\u2019s more, there have been many cases of fraud in which individual would \u2018sell\u2019 the import-export quota delegated (for minerals and marine products) to individuals. This has actually become a \u201cskill\u201d that Chinese dealers had to know in advance prior to their trade with North Korean businessmen. <\/p>\n
Kim Han Cheol, a Korean-Chinese businessman engaged in China-North Korean trade said, \u201cRecently, one of the traders from Kangsung Trading Company under the Ministry of the People’s Armed Forces in Wonsan, Kangwon Province were caught in the double book keeping process and were executed.\u201d The name of the crime was, \u201cmisusing the company money for personal use and for the corruption.\u201d <\/p>\n
Furthermore, Kim added, \u201cA trader who is involved in the Foreign Currency-Making Activity in Hamheung was found guilty for lending other people the import-export quota as well as receiving money from individual businessmen. The inspection team went into the houses of the trader and discovered a considerable amount of gold and U.S. dollars as well as Japanese Yen.\u201d <\/p>\n
The \u201cGood Friends\u201d also revealed through their last newsletter that, \u201cOh Moon Hyuk, the manager of the Chosun Leungra 88 Trading Company of Yeonsa, North Hamkyung built a private mansion in Yeonsagoon while driving around Benz after spending his own money on it-(but of course telling others that it was a gift from Kim Jong Il) was executed in public in July in 2007. <\/p>\n
The Good Friends reported that, \u201cHe also brought in many young girls and was a hedonist who kept out people from People\u2019s Safety Agency and National Security Agency from the mansion.\u201d <\/p>\n
This trend of strong restriction imposed on the traders will not cause any big damage on the China-North Korea trade, according to the experts. Kim stated, \u201cThe consequences of the starvation period for 10 years have cost North Korea too much money. However, it is time for the North Korean government to start their control – now that the luxurious lifestyle of the traders is wide known.\u201d<\/p>\n
The North Korean defector living in South Korea, Mr. Im, who continues to do his trade with North Korean traders at Dandong said, \u201cThe inner circle that can reap the most money from public trading process has always been done by the daughter-in-law (in Shenyang, China) of the late Oh Jin Woo who was the Minister of the People’s Armed Forces until 1995 when he died. I think the power core knew that it was common for the politically powerful to use their power to earn money and they have kept a blind eye until the capacity has become too big. Now they can\u2019t turn a blind eye anymore.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
[imText1]North Korean government has increased security this year in regards their trade with China. The double book keeping process and the nationally permitted import quota for individuals are two main areas in strict surveillance. Amongst the North Korean traders, it has become customary to keep double booking, with personal and national account books of revenue. […]<\/p>\n","protected":false},"author":164,"featured_media":5161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[645],"tags":[],"class_list":["post-5159","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"\n