Starting March 1, North Korean authorities have been mandating a shift away from cash in transactions involving state-owned commercial networks and enterprises, forcing a transition to electronic payments such as card transactions. Reporting partners living in North Hamgyong Province and Ryanggang Province filed reports in late February and early March. (JEON Sung-jun / KANG Ji-won)
◆ "Cash Payments at State-Owned Stores Completely Banned Starting in March"
Reporting Partner A in North Hamgyong Province relayed the following in late February:
"Authorities have issued instructions that starting in March, cash will no longer be accepted at state-owned commercial networks — only card payments. If you don't have a card, buying goods at state-owned stores has become difficult. The policy had already been rolling out in cities, and now there are directives to extend it to towns and rural stores as well."
After looking into conditions in other regions, the same policy was found to be in effect in Ryanggang Province as well. Reporting Partner B in Hyesan, Ryanggang Province, reported the following in early March:
"Here too, individuals are required to use cards. State-owned commercial networks can no longer accept cash, so they're scrambling to repair electrical facilities and install solar panels for card payment systems. There are even instructions coming down to prioritize evening hours — when the power supply is relatively more stable — for mandatory card use."
Reporting Partner B also noted: "The jangmadang markets are still conducting cash transactions, but authorities are checking transaction records under various pretexts."
