Price rises in North bring 1,000-won bill
With prices and wages rising after an economic reform in July, North Korea recently has introduced a 1,000-won note, Dow Jones reported on Wednesday.The first burst of inflation after the price adjustments was met with increased distribution of 500-won notes, which have been North Korea's largest bill. But with the average wage 15 to 20 times higher than before the July reform, and prices skyrocketing in tandem, the report said, a larger-denomination bill was required.
The new 1,000-won bill is similar to the existing 100-won note. One side bears a portrait of Kim Il Sung, the late leader of North Korea and father of the current leader, Kim Jong-il. On the other side, the news agency reported, is a picture of Pyeongyang Mansu hill, site of a statue of Kim Il Sung.
with the Korea JoongAng Daily
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