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KOREA DEMOCRATIC PEOPLES REPUBLIC OFNORTH KOREA Tenders




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Capital Pyongyang
ISO 3166 Code KP
Population 25,155,000
Area, Sq KM 120,540
Currency Won
Official Language Korean
GDP, Billion USD 28,000
GDP Growth Rate, % 1.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 900
International dial code 850
Time Zone GMT+09:00
Internet TLD .kp

North Korea is an East Asian country situated in the northern part of the Korean Peninsula. The capital of North Korea is Pyongyang which is also the largest city of the country. North Korea shares it land border on its north and north-west by China along the Tumen and Amnok rivers. North Korea also shares its border with Russia through a small section of Tumen River to the northeast. The Korean Demilitarized Zone is responsible for marking the boundary between South Korea and North Korea. However, none of the two countries have accepted the legitimacy of this border and claim to be entire peninsula's legitimate government. Korea was annexed by the Empire of Japan in 1910. However, during the end of World War II, when Japanese surrendered in 1945, Soviet Union and United States divided Korea into two zones as the north was occupied by the Soviets and Americans occupied the south. Two separate governments were formed in the year 1948 when negotiations regarding reunification of both the parts failed thereby resulting in the formation of the Republic of Korea in the south and Democratic People's Republic of Korea in the north. Both the states were accepted into the United Nations. Democratic People's Republic of Korea holds elections and identifies itself as a self-reliant socialist state but it has been described as Stalinist and a totalitarian and considered widely a dictatorship. With time, gradually the country has grown apart from the world Communist movement. State owns the means of production through collectivized farms and state-run enterprises. Most services like education, healthcare, housing and food production are either state funded or subsidized. North Korea suffered from a famine in 1990s and since then I has been struggling with food production. The active duty army of North Korea is considered to be the world's fourth largest and also possess nuclear weapons. It has also the most militarized society with a total of 9,495,000 reserve, active, and paramilitary personnel. This country has been maintaining one of the most centralized as well as closed economies since the 1940s in the world. However, lack of skilled labor, arable land, energy and transportation significantly created a lot of hindrance in the long-term growth which resulted in failure to meet the planning objectives. The GDP of North Korea is generated by industry and has a structural profile of a relatively industrialized country. Human development of this country are considered to be at medium levels. GDP at Purchasing power parity is estimated to be at $40 billion

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