NK seeks to diversify revenue sources amid international sanctions-阳泉市某某投资咨询有限责任公司

NK seeks to diversify revenue sources amid international sanctions

2024-10-30 08:28:05

North Korean workers wait for their flight at the airport of Vladivostok,<strong></strong> Sunday. The North has long made a fortune from the army of citizens it sends abroad to work, mostly in neighboring China and Russia but as far afield as Europe, the Middle East and Africa. AFP-Yonhap

North Korean workers wait for their flight at the airport of Vladivostok, Sunday. The North has long made a fortune from the army of citizens it sends abroad to work, mostly in neighboring China and Russia but as far afield as Europe, the Middle East and Africa. AFP-Yonhap

By Park Ji-won

North Korea is likely trying to diversify its revenue sources from overseas amid sanctions imposed by the United Nations.

The Korean Friendship Association (KFA), a Spanish-based organization building networks with North Korea, announced it is planning to visit North Korea to participate in an inauguration event of the North's new tourist complex in the Wonsan-Kalma region between April 11 and 18 in 2020.

The organization added it would provide chances of meeting with high officials of North Korea so that participants can discuss the cultural and business projects including the garment, mining, tourism, IT, scientific research and heavy industries while restricting participation from South Korea, the United States and Japan.

Tourism is one of the few remaining sources of revenue for Pyongyang as it was excluded from the sanctions.

In a related note, the North has announced it completed its construction of the Samjiyon tourism complex located in the North's border area with China in early December. The country also opened a tourist spot focusing on hot springs in Yangdok County, South Pyongan Province, in early December as well.

The move is considered part of the North's efforts to diversify its revenue sources amid sanctions imposed by the international community. The United Nations Security Council ordered its member nations to repatriate North Korean workers in their territories by Dec. 22 in an apparent move to reduce the sources of foreign currency going into the North and pressure the isolated regime to abandon its nuclear arms program.

It appears China is also allegedly helping the North's economy by providing aid and tourist dollars amid concerns about the North's country's economic downturn and its related impact on Beijing's economy, according to political sources.

More North Korean workers are reportedly entering Chinese territory for work or staying on there despite the sanctions, while analysts say China is overlooking those workers' economic activities for North Korea's benefit.

China granted over $35 million worth of aid to North Korea this year as of August, according to Beijing's customs data. China provided $56 million worth of aid to North Korea in 2018.

（作者：新闻中心）

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