Economy of North Korea
Estimating gross national product in North Korea is a difficult task because of a dearth of economic data and the problem of choosing an appropriate rate of exchange for the North Korean won, the nonconvertible North Korean currency. The South Korean government's estimate placed North Korea's GNP in 1991 at US$22.9 billion, or US$1,038 per capita. In contrast, South Korea posted US$237.9 billion of GNP and a per capita income of US$5,569 in 1991. North Korea's GNP in 1991 showed a 5.2% decline from 1989, and preliminary indications were that the decline would continue. South Korea's GNP, by contrast, expanded by 9.3% and 8.4%, respectively, in 1990 and 1991.
Bombardment of Yeonpyeong
The North Korean attack had a global impact on the financial markets. Several Asian currencies weakened against the euro and U.S. dollar, while at the same time Asian stock markets declined. The impact of the shelling on the financial industry led South Korea's central bank, the Bank of Korea, to hold an emergency meeting to assess the impact of the fighting on the markets.