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Central Bank Of The Democratic People's Republic Of Korea
The Central Bank of the Democratic People's Republic of Korea is North Korea's central bank. Established on December 6, 1947, it issues the North Korean wŏn. The Bank is subordinated to the Cabinet of North Korea. Since 2021, the president of the bank is Chae Song-hak. He was preceded by Kim Chon-gyun since 2014. History On February 15, 1946, a central bank of North Korea was announced, which was to be under the control of the Soviet military. However, the bank failed to accomplish its objectives, being unable to meet its costs of operation, and the 100 million wŏn capitalisation was ineffective.McCune, 2007, p. 194. The North Korean Interim People's Committee did not look upon the bank favorably, and chose instead to work through the Farmers' Bank, which also existed at the time. By late 1946, banking functions were consolidated into two main institutions, the Central Bank and Farmer's Bank. In June 1947, around 1,000 million wŏn was concentrated in the Central Bank, allowi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central District (Pyongyang)
Chung-guyŏk (Central Ward) is one of the 18 ''Administrative divisions of North Korea#Second-level divisions, guyok'' which constitute the city of Pyongyang, North Korea. The district is located in the center of the city, between the Pothonggang Canal and Taedong River, and is bordered to the north by Moranbong-guyok, to the northwest by Potonggang-guyok, and to the south by Pyongchon-guyok. Overview As the centre of Pyongyang, the district holds many of the city's most important buildings. The famous Kim Il-sung Square is located along the banks of the Taedong river, together with the Grand People's Study House, which is the national library of North Korea. Chung-guyok was once the historical centre of Pyongyang, and was almost completely obliterated during the Korean War by American bombing. Vestiges of the old city can still be seen, and the district is home to several of North Korea's National Treasures of North Korea, National Treasures, including the rebuilt Potongmun, Potong ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chong Song-taek
Chong may refer to: * Chong (surname), the romanization of several Chinese and Korean surnames * Chong or Pear people of Thailand and Cambodia ** Chong language * Chong or Limbu people of eastern Nepal, Bhutan, and northeastern India * ancient Chinese state 崇, allegedly attacked by King Wen of Zhou. See also *Chung (other) *Zhong (other) *Zhang (other) Zhang may refer to: Chinese culture, etc. * Zhang (surname) (張/张), common Chinese surname ** Zhang (surname 章), a rarer Chinese surname * Zhang County (漳县), of Dingxi, Gansu * Zhang River (漳河), a river flowing mainly in Henan * ''Zha ... {{disambiguation Language and nationality disambiguation pages ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1947 Establishments In Korea
It was the first year of the Cold War, which would last until 1991, ending with the dissolution of the Soviet Union. Events January * January–February – Winter of 1946–47 in the United Kingdom: The worst snowfall in the country in the 20th century causes extensive disruption of travel. Given the low ratio of private vehicle ownership at the time, it is mainly remembered in terms of its effects on the railway network. * January 1 - The Canadian Citizenship Act comes into effect. * January 4 – First issue of weekly magazine ''Der Spiegel'' published in Hanover, Germany, edited by Rudolf Augstein. * January 10 – The United Nations adopts a resolution to take control of the free city of Trieste. * January 15 – Elizabeth Short, an aspiring actress nicknamed the "Black Dahlia", is found brutally murdered in a vacant lot in Los Angeles; the mysterious case is never solved. * January 16 – Vincent Auriol is inaugurated as president of France. * January 19 – Ferry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of North Korea
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In North Korea ...
This is a list of banks in North Korea. List Central bank * Central Bank of the Democratic People's Republic of Korea Local banks * Chinmyong Joint Bank(진명합영은행) * Civilian Cooperation Bank(민사협조은행) * Daedong Credit Bank * Daesong Bank * Foreign Trade Bank of the Democratic People's Republic of Korea * Kumgang Bank(금강은행) Banks overseas * Golden Star Bank (closed in June 2004) * Joson Trade Bank * Danchon Bank (formerly called Chang-Kwang Credit Bank) * Koryo Bank See also * Economy of North Korea References {{Asia topic, List of banks in North Korea Banks Banks * North Korea North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korea, Korean Peninsula and shares borders with China and Russia to the north, at the Yalu River, Y ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Finance (North Korea)
The Ministry of Finance () is a government ministry in North Korea which is responsible for planning and managing the economic policies of the Democratic People's Republic of Korea. It deliberates the budget, establishes tax and economy policies, establishes fiscal policies and national financial management plans, organizes budgets, and discusses plans for fund management. It is a department in charge of coordination, budget and fund execution and management. It was formed in September 1948. Ministers of Finance See also *Cabinet of North Korea *Central Bank of the Democratic People's Republic of Korea *Economy of North Korea References {{portal bar, North Korea Cabinet of North Korea Government of North Korea Economy of North Korea North Korea North Korea, officially the Democratic People's Republic of Korea (DPRK), is a country in East Asia. It constitutes the northern half of the Korea, Korean Peninsula and shares borders with China and Russia to the north, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paek Ryong-chon
Baek (), also often spelled Paek, Baik, Paik is a Korean family name. In the year 2000, there were 351,275 people with this surname in South Korea. The word means the color white. Baek (白) "白" has a Cantonese origin from the Yuan dynasty and Goryeo dynasty. *Baek Wu Kyung (白宇經) of the Suwon Baek clan, cousin of Bai Juyi of the Tang Dynasty, is the origin of this name. Baek (苩) Some Baekje refugees from the late Silla age had this surname. *Paik Ga (苩加), Mahan ruler *Paik Yong (苩龍), Silla general *Paik Ki (苩奇), Baekje general *Paik Ga (苩加), Baekje painter List of famous Baeks ;Baek *Baek A-yeon, South Korean singer and songwriter *Cha-seung Baek, Korean-American former professional baseball pitcher *Baek Doo San, fictional character in ''Tekken'' fighting games *Baek Ji-hoon, South Korean football player *Baek Ji-young, South Korean singer *Baek Jin-hee, South Korean actress * Baek Minseok, South Korean writer *Baek Sung-hyun, South Korean actor *Baek ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kim Wan-su
Kim Wan-su (born 10 May 1939) is the Vice Chairman of the Supreme People’s Assembly (SPA) of the Democratic People's Republic of Korea (DPRK, North Korea). He was demoted from his positions as President of the Central Bank of the Democratic People's Republic of Korea and as Minister of Finance by the SPA in September 2009, five months after his appointment. He was also the deputy finance minister and became the president of the Central Bank of the DPRK in October 2004 when former President Jong Song-thaek (정성택) was dismissed (according to Radio Pyongyang). He attended the annual central bank governors meeting of the Bank for International Settlements (BIS) in Basel, Switzerland, in June 2004 and June 2005. At the 2005 meeting, he met Bank of Japan Governor Toshihiko Fukui is a Japanese economist and central banker. He was the 29th Governor of the Bank of Japan (BOJ) and a Director of the Bank for International Settlements (BIS). Early life Fukui was born in Os ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pyongyang
Pyongyang (, , ) is the capital and largest city of North Korea, where it is known as the "Capital of the Revolution". Pyongyang is located on the Taedong River about upstream from its mouth on the Yellow Sea. According to the 2008 population census, it has a population of 3,255,288. Pyongyang is a directly administered city () with equal status to North Korean provinces. Pyongyang is one of the oldest cities in Korea. It was the capital of two ancient Korean kingdoms, Gojoseon and Goguryeo, and served as the secondary capital of Goryeo. Much of the city was destroyed during the First Sino-Japanese War, but it was revived Korea under Japanese rule, under Japanese rule and became an industrial center. Following the establishment of North Korea in 1948, Pyongyang became its ''de facto'' capital. The city was again devastated during the Korean War, but was quickly rebuilt after the war with Soviet Union, Soviet assistance. Pyongyang is the political, industrial and transport ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
