(Reference Photo) Market Controllers who oversee the market at Hyesan Market of Yanggang Province. Taken at Hyesan Market of Yanggang Province in August 2013 by ASIAPRESS.
A large number of surveillance cameras were installed to watch the use of the Chinese currency. The reporting partner reported that 15 cameras were installed at Hyesan Market, but only 4-6 are working properly. Market controllers are watching through the cameras and if they caught the scene, they come out immediately and bust.
“Crackdown on use of foreign currency has got tougher since the end of August. Installation of surveillance cameras and confiscation are recent happenings,” confirmed another reporting partner in Yanggang Province
When asked a question whether the Chinese money is someone’s property and what they would do, he replied “if a mediator is available, they would give the money back, but in our currency (North Korean Won), not in the Chinese currency. They change them into our money (North Korean Won). If there is no mediator, they wouldn’t return the money. Even if they would return the money in North Korean Won, the exchange rate is unfavorable compared to the actual rate.”
Why does the authority start the crackdown on the use of the Chinese currency? It might be a preparation for the economic sanction on North Korea.
Or, the authority tries to absorb foreign currency from the public as they expect the sharp drop of foreign earnings due to the sanction. It was not confirmed whether the regulation on the use of foreign currency was reinforced in other regions as of November 9.
*Gyuchaldae (Disciplinary Unit) An organization to check social norm and chaos. Members are chosen from Youth Union, Women Union or schools.
【Related article】
◆ ＜Inside N.Korea＞ Second DMZ Set-Up at Northern Border with China
◆ Kim Jong-un Regime Works Hard to Conceal Sanctions
◆ Latest Market Price Index Inside N.Korea
* Editor’s notes on North Korean reporters
ALL REPORTS >>>
ARCHIVE(pdf) >>
DPRK MAP >>
