DPRK Business Monthly Volume IV, No.4

The DPRK Business Monthly, an international business report edited in Beijing, has been made available to CanKor readers by its editor, Paul White. Please check the current May 2013 edition here: DPRK Business Monthly Volume IV, No.4

Manpho Yonha Power Station (Photo by KCNA)

Manpho Yonha Power Station (Photo by KCNA)

Titles of articles found in this issue include:

  • Sanctions on NK’s Foreign Trade Bank Could Affect Millions
  • UNFPA Provides Medical Aid to NK mothers
  • Sanctions Hit Humanitarian Funding
  • Inter-Korean Business at a Standstill
  • Manpho Yonha Power Station Opened
  • June 28th New Management Methods in Force
  • Rason Could Be NK’s Shenzhen
  • Sinuiju Open to Western Tourists

…plus a number of other items, including a selection of North Korean tours by various tour operators.

Comment by the Business Monthly Editor:

The latest move by the US Treasury Department to cripple the DPRK’s foreign trade is a severe blow to North Korea’s attempts to conduct normal business with the outside world. Washington not only forbids US entities to deal with the Foreign Trade Bank, Pyongyang’s only conduit for foreign currency transactions, it also threatens non-US business people with retaliation if they dare to undermine the US economic embargo by engaging in legitimate trade with the DPRK. Even humanitarian programs are now at risk.

As quoted above, “The US Treasury Department has said it has no intention of hindering aid work in North Korea, although NGOs say this is precisely what is starting to happen.” Even foreign embassies (The US refuses to set up an embassy in Pyongyang) have expressed worries about being able to pay their staff. It is important to understand that the latest UN sanctions on North Korea don’t mention the bank. This is purely a US move.

And to show how powerful the US is in international financial circles, even the Bank of China has fallen into line and closed the Foreign Trade Bank’s account. But, considering the huge amount of business China does in North Korea, one wonders if China is quite as frightened as it appears to be.

Please feel free to consult the full issue by clicking on this link: DPRK Business Monthly Volume IV, No.4

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