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.
Delta Asia Financial Group
The bank has been accused of engaging in money laundering and distribution of superdollars for the government of North Korea. In September 2005, the impending imposition of sanctions by the United States was announced, which triggered a massive bank run. As a result, the Macao Government invoked a banking law to replace the bank's board by government appointees. As a result of this, several North Korean companies in Macao which had accounts with the bank, including Zokwang Trading, had their accounts frozen. Kim Jong-nam, the eldest son of North Korea's leader Kim Jong-il, had lived in Macao since 2004, when the United States imposed sanctions on a bank in Macao for allegedly helping North Korea launder money. However, the United States agreed to resolve the issue of frozen Banco Delta Asia bank accounts, if North Korea disarms its atomic arsenal.