ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
North Korea

Half of North Koreans use yuan rather than local won

Currency 'peg' offsets inflation but adds risks, South Korean think tank says

Half of North Koreans prefer to use yuan rather than the local won, experts say.   © Reuters

SEOUL -- More than half of North Koreans use the Chinese yuan as a hedge against sharp inflation and to protect the value of their assets, according to experts speaking at a seminar on Wednesday.

Korea Development Institute, a think tank backed by South Korea, said that the proportion of North Koreans who use the yuan reached 52.5% from 2013 onward, up from 23.4% between 2010 and 2012, based on surveys of North Korean defectors.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more