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North Korea 'Revalues' Currency

04/12/09December 4, 2009

North Korea has reportedly introduced a currency reform. Though the secretive regime has not officially admitted it, a pro North Korea newspaper Choson Sinbo, which is published in Japan, has quoted a North Korean official saying Pyongyang has revalued its currency, the won.

https://p.dw.com/p/LsH0
North Korea's new paper currency bills are shown in a pro-Pyongyang newspaper
North Korea's new paper currency bills are shown in a pro-Pyongyang newspaperImage: AP

Reports suggest that the regime has dropped two zeroes from the bills, a move that experts say is aimed at targeting a burgeoning free market.

Meanwhile a South Korea based online news outlet has reported that the news of currency revaluation has sparked anger among North Koreans, with some burning piles of old bills to express their outrage. They fear the move will cut the value of their savings.

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Disha Uppal asks Rüdiger Frank, an expert of Korean economy from the University of Vienna about the reported North Korean currency reform

englisch: AC 0412 Korea Currency LONG - Produziert: 04.12.2009 - 16:22:43 von Uppal, Disha
December 4, 200904:51 min