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Category: NK Economics

February 3, 2007

Sand???

A sand supplier under virtual control of the North Korean army has notified its South Korean customers that the price of sand exported to South Korea would be going up by 60 percent. On Thursday, the Korea International Trade Association, the Korean Aggregates Association and importers of North Korean sand said that the North recently sent an unexpected notice that it would raise the price of sand next month by W900 (US$1=W937) from US$1.6 (W1,500) to 2 euros (W2,400) per...
Categories NK Economics/NK Military
January 30, 2007

Wobble Watch

President George Bush has told the Treasury Department, which has been handling financial sanctions regarding North Korea, to cooperate with the State Department regarding the six-party talks, sources in Washington said.  Nevertheless, the cooperation comes with a catch. Washington has said the Treasury Department should cooperate only when Pyongyang promises at the next round of the six-party talks to take measures to “disable” its Yongbyon nuclear reactor.  [link] Later, the article specifies that “disable” means something irreversible that falls short...
Categories Counterfeiting/Diplomacy/Money Laundering/NK Economics/Six-Party Talks
January 29, 2007

Deceptive Headline Watch: Yonhap

You don’t get self-fisking journalism very often, but here’s one that just falls off the bone like an overcooked roast (mmm, roooast).  Here’s the headline: U.S. must choose between sanctioning N.K. and compromising for denuclearization: report Well, what are we supposed to take from that, I wonder?  It could only be that inexplicable American obsession with people counterfeiting its currency that’s preventing us from denuclearizing North Korea.Until you read the actual quote, which says: “Currently the (George W.) Bush administration...
Categories Counterfeiting/Money Laundering/NK Economics/Six-Party Talks/WMD
January 17, 2007

Kumgang Update

Update:   More here.   Whenever you read about the Kumgang Tourism Project, which South Korea likes to tout as an initiative to reduce tensions,  consider those assertions in the context of  well-sourced suspicions that North Korea uses the proceeds for its WMD programs.  Thus, we should celebrate stories like this one from Yonhap, documenting its failure in extensive detail.  The best news is that enough people have a conscience to impede the project’s success.
Categories An Alliance?/Appeasement/NK Economics/U.S. & Korea
January 17, 2007

Wendy Cutler for President

At this point, I oppose the FTA  because Korea does not seem to be serious about opening its markets fundamentally.  Nor do  I  believe that  Korea should be rewarded for  doing so much to demagogue anti-Americanism, or to  undermine U.S. national security interests or  the humanitarian imperatives of the North Korean people.  Those are the reasons I don’t buy things made in Korea these days, and I know that the FTA would  instead reward Korea’s worst politicians and labor unions...
Categories An Alliance?/Diplomacy/Korean Politics/NK Economics/U.S. & Korea
January 16, 2007

Sounds Like a Job for ‘The Dog’

But this time, they mean business: An international energy consortium has asked impoverished North Korea for nearly US$1.9 billion in compensation for its defunct project to build two nuclear power plants in the North under the 1994 nuclear agreement on the North’s freezing of its nuclear activities, diplomatic sources here said Tuesday. North Korea, however, has yet to respond to the claim, the sources said, speaking on condition of anonymity. Analysts also said the North is unlikely to respond favorably,...
Categories Diplomacy/NK Economics/WMD
January 11, 2007

Lefkowitz on Kaesong: ‘Material support for a rogue government, its nuclear ambitions, and its human rights atrocities.’

[Updates Below; and a big welcome to  everyone coming in from Gateway  Pundit.]   Ambassador Jay Lefkowitz, the  U.S. Special Envoy for Human Rights in North Korea,  has an excellent new op-ed in the Wall Street Journal (thanks to a reader!) that will provoke an absolute  Category 5 sh*tstorm  between the United States and South Korea, and for the best of reasons.  Without question, the State Department and the Administration have not always lived up the high ideals the Special...
Categories "United" Nations/Human Trafficking/NK Economics/U.S. & Korea/WMD
January 9, 2007

Kim Jong Il Unplugged, Part 17

After North Korea showed up at last month’s disarmament talks just long enough to give the United States the finger, you wouldn’t expect us to go wobbly on our financial measures against North Korea’s financing of WMD’s, counterfeit currency, and other illegal proceeds.  With the passage of U.N. Security Council Resolutions 1695 and 1718, those measurements have become requirements.  The good news is that we’re not going wobbly. Treasury, mainly in the physical form of Undersecretary Stuart Levey, has been...
Categories "United" Nations/Axis of Evil/Counterfeiting/Iran/Money Laundering/NK Economics/WMD
January 2, 2007

Kim Jong Il Unplugged, Part 16

East Asia Commercial Bank of Vietnam closed all accounts linked to North Korea on Wednesday after the Macau government indicated it will keep the North’s accounts in its own Banco Delta Asia frozen “as long as legally possible. EACB has been acting as a correspondent bank for customers to remit money to and from North Korea. The U.K. Financial Times on Thursday quoted a letter from EACB deputy general director Nguyen Thi Ngoc Van to its North Korean customers and...
Categories NK Economics/Six-Party Talks
January 2, 2007

KBS Confirms It: N. Korean Workers in Europe Are Slaves

Thanks to Mingi Hyun for forwarding, and to my wife for translation assistance.  Report, with video, here. KBS has confirmed that North Korean workers’ pay in East Europe is sent to a North Korean government account.  The Czech government learned that most of the workers’ pay was sent to the North Korean government and has stopped issuing work visas for North Korean workers. . . . The underwear factory is in the small village of Zebrac (phonetic), in the Czech...
Categories Human Rights/Human Trafficking/NK Economics
December 6, 2006

A Billion for Tribute, But Not One More Cent for Defense!

Update:   Guess what?  GI Korea had it exactly right all along.    All hail GI Korea!   Wow.  Talk about nailing it. Let’s compare the $780 million dollar cost sharing agreement to the amount of money Seoul sends to North Korea.   While North Korea was busy creating international stability with their ballistic missile and nuclear bomb tests, the South Korean government was busy sending them a record amount of humanitarian aid.   The South Korean government sent $227...
Categories An Alliance?/NK Economics/U.S. Military/Washington Views
December 4, 2006

North Korea’s New Low: Murder for Insurance Money

I  have blogged about the evidence supporting charges that North Korea has committed  racial infanticide, killed entire families in a gas chamber, and starved millions of innocent people to death because it would rather buy MiG’s than corn.  Perhaps in the grander scheme, all of those outrages are worse than this one, yet on some level I can’t quite explain, it does seem like a new low: Death is hardly a rare thing in North Korea, where millions are estimated...
Categories Human Rights/NK Economics/WTF?
November 21, 2006

The Horse Is Dead, Already

Update:   And remember, kids, they’re not  anti-American.  No, this is not Pyongyang.  Sadly, it’s the very building where I got married.  Until today, I never knew that the road back to the Third World passed it. Original Post:   There can’t possibly be more than a 10% chance that there will be a U.S.-Korea Free Trade Agreement  before 2010, and that assumes that the Democrats lose control of Congress in 2008.  The window has closed.  So why on earth...
Categories Anti-Americanism/NK Economics/U.S. & Korea
November 20, 2006

Kumgang Revenues Continue to Decline

Whether it’s because of  the diminishing  appeal of tyranny tourism or North Korea’s sheer belligerence, South Koreans have never been less enthusiastic about the Kumgang tourist resort: Tour organizer Hyundai Asan on Sunday said fewer than 300 tourists now visit Mt. Kumgang over the weekend. During the same period last year, weekend visitors to Mt. Kumgang numbered 400-500. The number of ordinary tourists has dwindled to fewer than 2,000 bookings for December tours, but activist groups have booked the tours...
Categories "United" Nations/Appeasement/Korean Politics/NK Economics