Korean Economic News : May 22nd

Day 549, 14:21 • Published in North Korea USA • by OliGagnon

Economic Data of North Korea :

Grain market crashed!
________________________________________ ______

Due to incessant illegal importations from overseas organizations donating cheap grain to local food producers, 3 farms (Plam Grain, Juche Grain, Koryo Granary) filled Chapter 11. Their bankcruptcy caused so far the loss of 16 land jobs. Juche grain and plam grain are still operating to liquidate their stocks and started massive reduction of wages. The remaining grain companies are kept afloat by massive wage reductions. A high-ranked executive of a grain company commented :

"The grain companies that are still open sell their grain at below-production-cost, this situation cannot last much longer. The problem isnt too much concurrence, it is the lack of food producers using local grain as a whole that destroys us"

Future congress members will have to debate on the issue very quickly when the people's chamber debates opens on monday.
________________________________________ ______

Food market thriving!
________________________________________ ______

Even with the imminent shutdown of the Q2 food plant "Q2 NK ORIGINAL FOODS", the food market in North Korea is going well and could use a few more players, especially in the Q2 and Q3 niche markets. The first company to open up a Q3 food plant in our country will have sunny days ahead. A local consortium representative commented :

"We do have plans to build a Q2 food plant in Kangwon in the near future, the region needs the jobs and the economic market is promising right now with the cheap grain available, investors are welcomed*
________________________________________ ______

Mitigated debuts for NK fledgling iron industry
________________________________________ ______

After an horrible opening and almost immediate shut down of the first iron mine in North Korea "Korean Steel", the local workers union bought back the company from the original owner and reopened the mine. A second iron mine opened, *DPRK Iron*, offering wages higher than the national average. If the local weapons company use local iron for their manufacturing, the future of iron seems promising.
________________________________________ ______

Weapons industry working in the shadows
________________________________________ ______

Taking much less the stage than grain or food companies, two weapon companies opened this week in the Glorious Land : "Glorious Weapons" and "Anglo-Romanian", no official could be reached on either of those 2 companies on their current situation and plans for the future.

________________________________________ ______

Housing promises
________________________________________ ______

Alot of congress candidates are showing plans of a national housing program, where a state-run organization would import wood from canada and employ noble korean citizens to build local houses affordable for our citizens and ensure their wellness. A congress candidate supporting the idea commented :

"It is a given that we need to import wood for our needs, and housing being a risky business, the best person for the job of starting it up is our government, which i will be part of, and strongly push for"
________________________________________ ______

First private bank opened!
________________________________________ ______

Our young nation first private bank *Bank of North Korea* opened up in the last days, the CEO of the bank commented :

"I am not doing this for profit but for the development of north korea"

Full details on the bank's operations could not be obtained, but it offers bonds savings with interest for customers
________________________________________ ______

Airlines companies living in secret
________________________________________ ______

No information can be heard from any airlines companies in north korea about their financial situation and working conditions. As the poet says : *No news, good news*
________________________________________ ______

Chief's Editor Editorial
________________________________________ ______

This newspaper fully endorse the brutal and cruel butchering of any human being talking about any form of reality show and how good it is and how a jerk (insert random guy name here) is because he kissed (insert random guy/girl/mascot name here) while he already has a (insert random guy/girl/dog/cat/SUV/pregnant sister) waiting for him outside.

2 days until congress elections, vote up citizens!

Kim-Sun Li
Chief Economist of NKEN