Chocopie inflation in North Korea's Kaesong Industrial Park

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Chocopie inflation in North Korea's Kaesong Industrial Park

whowireduniedit

2011.11.24 (13:52:49)

North Korean workers in the joint venture with companies from South Korea take home an average monthly wage of around £67, but earn a great deal more from the Chocopie snacks that South Korean companies initially introduced as a form of bonus.

The chocolate-coated biscuit and marshmallow snacks are made by Orion Confectionery in South Korea, where they sell for around W300 (16 pence) each, but are a much sought-after luxury in the impoverished North. On the black market, according to the Asahi newspaper, single Chocopies are reportedly changing hands for as much as $10 (£6.40).

Employees at Kaesong were considerably better off than the average North Korean worker, particularly after South Korean employees introduced Chocopies to reward output increases.

[Via] Telegraph

[Image] Telegraph

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