Second, this might be related to the Eighth Party Congress held in January 2021 and preparations for the launch of the model new five-year plan. The evaluation from Daily NK signifies that as of January 2021 in Pyongyang, the exchange price was KPW 6,one hundred per U.S. First, this might be as a result of North Korean authorities’ efforts to lastly crack down on the use of foreign foreign money exchange. Following the coronavirus pandemic and the devastating flood in 2020, North Korea finds itself but again in a troublesome financial situation. It seems odd for the won to abruptly rise in value contemplating United Nations sanctions and the closing of the borders due to COVID-19. dollar and the value of one kilogram of rice was KPW 3,500. Foreign currencies – particularly the Chinese yuan alongside the border of North Korea and China, and the us dollar in other areas – have turn into main devices not just for secretly holding private funds, but also for day-to-day exchanges in the market.
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There is the Korean Bar Association, which has a central committee and local committees in every province and city. Lawyers in North Korea are strictly controlled by the state, so it’s exhausting to say that they belong to the private sector. The central committee qualifies or disqualifies attorneys and determines lawyer remunerations.
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