Category Archive: Economy

Jul 29

North Korean peoples banked cash can be deposited at rate of 100:1

North Koreans are being encouraged by the government to deposit any money not currently in banks to be converted to the new currency, at a rate of 100:1. Citizens are reluctant, however, as skyrocketing prices for necessities such as rice make the benefits trivial at best.

Source: DailyNK

Permanent link to this article: http://www.openingupnorthkorea.com/archives/117

Jul 29

Shanghai to Pyongyang twice weekly via Air Koryo

Air Koryo has announced a new bi-weekly flight from Shanghai to Pyongyang. Perhaps nother route to promote tourism for the upcoming Arirang concerts in August?

Source: North Korean Economy Watch

Permanent link to this article: http://www.openingupnorthkorea.com/archives/114

Jul 29

NK-China sign economic co-operation accord

China has signed an agreement with North Korea to boost economic aid to the impoverished country, in exchange for a return to six party talks. This lends further evidence to the argument that if you want to injure Pyongyang, you need to start with China.

Source: Yahoo! News

Permanent link to this article: http://www.openingupnorthkorea.com/archives/112

Jul 29

NK-Burma nuclear co-operation?

DPRK’s foreign minister is currently in Burma (Myanmar), reportedly in discussions with the junta in power there over joint military aid. Accusations from Norway claim Myanmar is currently developing it’s own nuclear weapons programme, with assistance from the North.

Source: Yahoo! News

Permanent link to this article: http://www.openingupnorthkorea.com/archives/109

Jul 28

An interesting read NK refugees in the US send money home

Check out this article detailing the lengths that refugees in the US go to to take care of their families back home. Even sending just $1500 USD a year makes a person in NK quite wealthy. Money is typically funneled through South Korea accounts into Chinese accounts which then get sent to North Korea, often with a 20% overhead charge.

Source: Radio Free Asia c/o @LiberateLaura on Twitter

Permanent link to this article: http://www.openingupnorthkorea.com/archives/101

Jul 28

Kim Jong-Il funnels money to son

Open Radio for North Korea in Seoul is reporting that the Dear Leader is quietly transferring his personal wealth to his son, the inevitable successor to the North Korea leadership. Kim Jon-Un, age 27 is expected to be tapped as successor in an upcoming September meeting of delegates of top officials. I suspect we will be learning a lot more about the “Youth Captain” in the coming days and weeks.

Source: Google News via AFP

Permanent link to this article: http://www.openingupnorthkorea.com/archives/94

Jul 28

Report: North selling arms to Afghanistan, Iran

While hardly surprising, the latest Wikileaks release of 90,000 reports of the bungled mess that is the US-Afghan war suggest that NK has been selling remote controlled rocket launchers to the Taliban. A helicopter in 2007 was allegedly downed by one such missle, raising red flags as typically rocket propelled grenades are used instead. Though little real evidence of a concrete deal exists, a deal was allegedly made between the parties in 2005.

In a related story also from Chosun Ilbo, US research indicates that NK rakes in over $2 billion USD a year in sales to Iran. Similar deals are made with Syria and Burma as well. One can clearly see this as indirect provocation against the US, but how else to make a buck with so many sanctions constantly in place? “My enemy’s enemy is my friend”.

Source(s): English Chosun (1) (2)

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Jul 23

A Brief History of the Situation Until Now…


So here’s what you’ve missed:
1945 – World War II occupation of Korea by Japan ends with Soviet Union controlling the North and the USA controlling the South.
1946 – Kim Il Sung installed as leader. Soviets withdraw later.
1950 – South becomes independent, triggering attack from the North. Korean War begins.
1953 – A cease-fire is declared, but a formal peace treaty never signed to this date.
1960 – North Korea grows under the leadership of Kim Il Sung.
1968 – USS Pueblo captured in North Korean waters.
1969 – USA’s spyplane shot down.
1980 – Kim Jong Il enters the spotlight, playing a strong leadership role under his father, Kim Il Sung.
1986 – After 7 years of assistance from the Soviets, NK starts it’s first 5MW nuclear reactor.
1991 – North and South admitted into the United Nations.
1992 – North refuses access to IAEA inspectors to suspected nuclear weapons production.
1993 – US President Bill Clinton denounces NK for “nuclear annihilation” threats.
1993 – Russia scraps agreement that it would aid NK if attacked.
1994 – Kim Il Sung dies, Kim Jong Il assumes leadership.
1995 – USA agrees to provide nuclear reactors that are less effective for creating plutonium.
1996 – Widespread famine kills millions.
1998 – NK fires a missile over Japan, alleging it was a satellite.
1998 – NK spy submarine found in SK, all crew dead.
2000 – A break in hostilities, SK president meets Kim Jong Il. Large prisoner exchange, families reunited after 50 years.
2001 – NK requests food aid after suffering worst drought in history.
2002 – USA president George W Bush adds North Korea to list of countries supporting state sponsored terrorism. The so called “Axis of Evil” comprised Iraq, Iran and North Korea.
2002 – North and South naval ships battle in Yellow Sea with casualties on both sides.
2002 – North Korea admits to secret nuclear weapons program. USA reacts with oil sanctions.
2003 – North Korea withdraws from Nuclear Non-Proliferation Treaty.
2003 – Talks between NK, USA and China begin regarding nuclear ambitions. NK declares it has enough plutonium to construct 6 nuclear bombs.
2004 – 6 party talks (USA, China, NK, SK, Japan and Russia) repeatedly break down.
2005 – NK declares it has constructed weapons for self defence.
2005 – NK agrees to cease weapons productions in exchange for aid and security.
2006 – North Korea testfires serveral missiles. Also claims first nuclear weapons test.
2007 (Feb) – Talks resume, North agrees to shut down main reactor in exchange for fuel.
2007 (Aug) – Appeals for food aid after heavy flooding.
2007 (Oct) – North continues disabling nuclear facilities and commits to transparency.
2007 (Nov) – NK and SK leaders meet for first time in 15 years.
2008 (Jan) – USA accuses NK of failing to achieve deadline for transparency of nuclear program. China backs USA position.
2008 (Feb) – Newly elected SK president Lee Myung-Bak takes hardline stance on NK: No aid unless no nukes.
2008 (Apr) – North – South relations fall apart. North testfires more missiles.
2008 (Jun) – North finally declares nuclear assets.
2008 (Sep) – North restarts disabled reactor. USA removes North from “Axis of Evil” state sponsored terror list in exchange for further transparency.
2008 (Dec) – USA suspends aid, North slows down dismantling of weapons program. Kim’s health is in question as public appearances become rare.
2009 (Jan) – North cancels all military and political deals with South, citing hostility from SK.
2009 (Apr) – North launches an alleged communications satellite, believed to be cover for test of long range missile. The launch fails.
2009 (May) – North performs underground nuclear test. Denounces 1953 armstice treaty.
2009 (Jun) – Speculation that Kim Jong Il’s youngest son, Kim Jong Un will take over the family dynasty.
2009 (Aug) – Laura Ling and Euna Lee, two American-chinese journalists crossing into NK are freed from 12 year labour camp sentence by former US president Bill Clinton.
2009 (Nov) – NK redenominates its currency, causing major economic turmoil and skyrocketing fuel and food prices.
2010 (Jan) – NK calls for end to hostilities with US, denuclearization of Korea peninsula.
2010 (Mar) – SK warship “Cheonan” sinks mysteriously near NK/SK maritime border, killing 47 soldiers onboard.
2010 (May) – SK finds incontrovertible evidence that NK torpedo attacked the Cheonan, cuts all diplomatic and financial ties. North vehemently denies, threatening all-out war with South, all while using the attack for internal propaganda.
2010 (Jun) – North announces leadership reshuffle for September. Largely speculated to be the “coming out” party for Kim Jong Un.

This is a pretty watered down list of major events to come out of North Korea over the past 60 years. I encourage you to view the sources below, some quite exhaustive.

Source(s):
http://news.bbc.co.uk/2/hi/asia-pacific/country_profiles/1132268.stm
http://en.wikipedia.org/wiki/Timeline_of_North_Korea_nuclear_program
http://timelines.ws/countries/KOREANORTH.HTML

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