TheHermitKingdom

channel image

TheHermitKingdom

TheHermitKingdom

subscribers

North Korea isn't known as being a consumerist paradise. Since 2011 that has been changing. North Korea have gone from having virtually no stores to having a few.

These stores are not for the average person. Wealth inequality in North Korea is ridiculously high. The average GDP per capita for North Korea was $1,300 according to Bloomberg in 2016. To put it in comparison, a $30,000 Grand Piano was sold in Pyongyang in 2009 during an economic crisis. That is more than 23x the average GDP per capita.

These shops have been setup by the North Korean government to sell goods domestically. They are sold at marked up prices. The items must be smuggled in illegally. These stores are designed to make a profit for the notorious Room 39 which is controlled by Kim Jong-un.

If you want to learn more about North Korea I recommend you subscribe to my channel. Look through my playlists. And don't forget to read:

NK News - https://www.nknews.org/

Daily NK - https://www.dailynk.com/

NK Economy Watch - http://www.nkeconwatch.com/

38 North - https://www.38north.org/

The Aquariums of Pyongyang - https://www.amazon.com/Aquariums-Pyongyang-Years-North-Korean/dp/0465011047

In Order to Live - https://www.amazon.com/Order-Live-Korean-Journey-Freedom/dp/014310974X

Under the Loving Care of the Fatherly Leader - https://www.amazon.com/Under-Loving-Care-Fatherly-Leader/dp/0312323220

SHOW MORE

Created 4 years, 4 months ago.

1 video

Category Business & Finance