N. Korea: Two Executed by Firing Squad for Using Others to Swap Old Bills for New

Chosun Ilbo ^ | 12/08/09

[TigerLikesRooster]

/begin my translation

N. Korea: Two Executed by Firing Squad for Using Others to Swap Old Bills for New

2009.12.08 09:24

There is a report that two businessmen were executed by firing squad, which was carried out off the public view. They tried to get around (strict) rules for currency swapping.

Quoting its source inside N. Korea, Open Radio for N. Korea, which broadcasts into N. Korea, reported on Dec. 7 that two businessmen in the city of Pyongsung, who had old bills totaling 11 million Won(N. Korean currency unit) from their sales, tried to convert them into new bills by distributing them to their acquaintances in blocks of 100,000 Won (note: the maximum limit allowed for the swapping per person,) who were then asked to swap the bills for them, and get to have 50% cut. They got caught in the act on Dec. 4 and the authorities executed them by firing squad for this criminal act.

Pyongsung residents reportedly found it too harsh for shooting them for taking care of what is their own money after all, and are sympathetic (to the executed.) They also feel that the execution is a clear indication that the authorities are quite resolved to get this through no matter what.

/end my translation

[TigerLikesRooster]

Ping!

[Venturer]

Outright theft by Government.

[Deaf Smith]

Structuring is a big No-No in the USA also.

[CPT Clay]

Socialist Paradise!!!!!!

[Red Badger]

Arrested Dec 4, executed Dec 7?................................

[Red Badger]

But it’s not a capital crime...............

[Red Badger]

Outright MURDER by Government. Financial crimes are not on the same par as rape, murder etc..........

[TigerLikesRooster]

The article did not spell out the date of execution. Must be between those two dates.

[Red Badger]

Between?............

[TigerLikesRooster]

What is your point? Or am I slow to get your joke?

[TigerLikesRooster]

Well, they are set to lose 99% of their money by this action. Kim Jong-il does not want alternate power center emerging outside of his control. However, I hear connected ones have their asset in foreign currency so this action only affected small time businessmen without ready access to foreign currency. In N. Korea, the state always manage to confiscate people's money. They forced them to deposit cash in state institution. However, withdrawal is set up to be quite difficult. Once deposited, it is basically gone.

No safe and fair rule of law established for even rudimentary business transactions. So this is only way to keep your money. Hidden from the state.

[gura]

North Korea does not have businessmen! Lies perpetrated by our class enemies!!!!! LIES!!!!!!

[myknowledge]

In reality, socialist hellhole.

[denydenydeny]

shooting them for taking care of what is their own money after all

No such thing in the wonderful world of socialism.

[TigerLikesRooster]

Well, it used to be that way. However, after their state economy broke down and millions starved to death, N. Korean state, unable to fee them, let people fend for themselves, and unofficial or underground markets sprang up.

As time passed, new class of people emerged. Those who run business to make money. A rudimentary business class. Unofficial and more often than not in the shadow.

As their power and influence grow, the state feel threatened. They see alternate center of power forming: market economy. People start to follow business imperative over state imperative. This is a gradual process but none the less the grave threat to N. Korean regime. To them, it is the inexorable march to certain death.

Hence, they tried to dismantle market economy over the last few years. Drastic restriction on market activities. Attempt to force people back to state-controlled food ration system. However, it did not work because state is broke and cannot provide people with even bare minimum food and other necessities. Their repeated attempt to beat back growing market force keeps falling short. Still they try, and try harder.

This currency reform is its more heightened attempt. N. Korean regime is swimming against tide, but they will try and try, until tide will swallow them for good.

[Red Badger]

No joke, just astonishment. I was simply pointing out that as Dec 4 to Dec 7 is an extremely short period of time between arrest and a state execution, your reply indicated that it was even shorter than that!........................

[TigerLikesRooster]

It's N. Korea, after all.

[Red Badger]

I bet they have a really low crime recidivism rate.............

[TigerLikesRooster]

They ran into vocal outrage from population. The situation got serious and they are treating it now as some sort of national emergency.

The two men who reportedly got executed were in a sense treated like looters after devastating earthquake. Swift and harsh punishment before things could further deteriorate.