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| China-Japan-Koreas |
| North Korea executes two economists after currency revamp flops |
| 2010-04-05 |
| This is a policy with interesting possibilities. You listening Timothy Geitner? North Korea executed two senior economic officials last month - not one as previously reported - over a botched currency revamp that forced markets to close temporarily and fuelled social tensions, a media outlet that specialises in the North has reported. The communist North redenominated its won in December as part of efforts to fight inflation and reassert control over its burgeoning market economy. That reportedly sparked unrest after many North Koreans were stuck with piles of worthless bills. A government economist said last week markets were forced to close for several days due to problems setting prices. The two officials were executed by firing squad March 12 at a stadium in the North Korean capital, Pyongyang, before an audience of members of the ruling Workers Party and finance officials, the Seoul-based Daily NK reported yesterday, citing a source in Pyongyang it did not identify. South Korea's Unification Ministry, which handles relations with the North, and the National Intelligence Service said they could not immediately confirm the report. The officials were the ruling party's finance and planning department chief who spearheaded the reform, Pak Nam Gi, and a vice chief of the State Planning Commission, Daily NK said. Pak's execution was reported last month by other South Korean media but there has been no official confirmation. The agency did not have the name of the second official. |
| Posted by:tipper |