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.
Mount Kumgang
The Mount Kumgang Tourist Region is thought to be one way for the North Korean government to receive hard currency from abroad. Therefore, the official currency of the tour is neither the South Korean won nor the North Korean won, but the US dollar. Since 2003, food and services to South Korean tourists are provided by some North Koreans. But most of the staff in the hotels are Chinese citizens of Korean heritage with Korean language skills. The area is developed by Hyundai Asan, which plans to expand the site with a proper ski resort to complement the current sleigh course, and complete golf courses. Many plans for expansion, however, are in their earliest stages.