{"id":53253,"date":"2022-11-15T17:00:45","date_gmt":"2022-11-15T08:00:45","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=53253"},"modified":"2026-04-05T16:02:01","modified_gmt":"2026-04-05T07:02:01","slug":"despite-influx-chinese-imports-north-korean-market-sellers-still-unhappy","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/despite-influx-chinese-imports-north-korean-market-sellers-still-unhappy\/","title":{"rendered":"Despite influx of Chinese imports, N. Korean market sellers are still unhappy"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">North Korean business people in local markets are complaining of stagnant sales and revenue despite the influx of imported Chinese foodstuffs driving down prices, Daily NK has learned.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A Daily NK source in North Hamgyong Province said Thursday that the prices of imported foodstuffs have been on the decline in Chongjin\u2019s markets since last month.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHowever, merchant revenues aren\u2019t climbing because there aren\u2019t many consumers,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the source, supplies of foodstuffs imported from China \u2014 including oil, seasonings and sugar \u2014 have recently been increasing in Chongjin\u2019s markets, leading to falling prices.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this is injecting little vitality into the markets, with economic difficulties depressing local purchasing power.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since the COVID-19 pandemic, the state has been unloading goods imported through state-led trade largely onto state-run shops. In turn, certain <\/span><i><span style=\"font-weight: 400;\">donju<\/span><\/i><span style=\"font-weight: 400;\">, North Korea\u2019s wealthy entrepreneurial class, and merchants acquire the goods from the shops to sell in the markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, marketplace merchants are reportedly selling the goods for higher prices than the state-run shops to turn a profit, depressing sales.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cPeople buy goods where they are cheap, not where they are expensive,\u201d the source said. \u201cBecause prices are largely formulated by the state-run shops, it\u2019s becoming rarer and rarer for merchants to make money in the markets.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In fact, merchants in Chongjin are reportedly having a difficult time earning a living through their commercial activities. The source said merchants cannot make ends meet on a daily basis because nobody is buying, even if they have goods to sell.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Witnessing poor sales despite falling prices, merchants are complaining that the \u201cmarkets look set to close their doors.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The source said the continued closure of the border since the start of the COVID-19 pandemic and the state\u2019s grip on trade in the name of the \u201cplanned economy\u201d is gradually making it more difficult for private business people to earn money.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the government distributing goods at state-run shops across the country, selling them for the same price everywhere, inter-regional commerce is going nowhere, either, the source said.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIn these circumstances, opportunities are growing for <\/span><i><span style=\"font-weight: 400;\">donju <\/span><\/i><span style=\"font-weight: 400;\">to make money by hoarding potentially lucrative goods as soon as they come in and selling them when the prices rise,\u201d he said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The source said people are facing intensifying economic difficulties because the state is directing commerce, even as it fails to disseminate food.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt would be great if the authorities solved livelihood issues with the planned economy, but because people believe this to be unlikely, they hardly welcome the state\u2019s economic policy now,\u201d he said.<\/span><\/p>\n<p><i>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/i><\/p>\n<p><a href=\"https:\/\/www.dailynk.com\/20221110-4\/\"><i>Read in Korean<\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>North Korean business people in local markets are complaining of stagnant sales and revenue despite the influx of imported Chinese foodstuffs driving down prices, Daily NK has learned. A Daily NK source in North Hamgyong Province said Thursday that the prices of imported foodstuffs have been on the decline in Chongjin\u2019s markets since last month. [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":40626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[67,645],"tags":[100],"class_list":["post-53253","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","tag-markets"],"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>Despite influx of Chinese imports, N. 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A Daily NK source in North Hamgyong Province said Thursday that the prices of imported foodstuffs have been on the decline in Chongjin\u2019s markets since last month. 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