https://www.confiduss.com/en/jurisdictions/north-korea/economy/ - Economy of North Korea

North Korea is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, North Korea may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, North Korea exports around $3.95 billion and imports roughly $4.83 billion. 4.8% of population in the country are unemployed. The total number of unemployed people in North Korea is 1,229,312. In North Korea, 4.3% of the population lives below the poverty line. The percentage of citizens living below the poverty line in North Korea is low, indicating that it has a stable economy. Investors should consider North Korea to be a safe location for investments and other financial ventures. The Gini Index of the country is 31. North Korea is experiencing good equality. The majority of citizens in North Korea fall within a narrow range of income, although some cases may show significant differences. The Global Peace Index (GPI) for North Korea is 2.977.

Currency
The currency of North Korea is North Korean won. The plural form of the word North Korean won is won. The symbol used for this currency is ₩, and it is abbreviated as KPW. The North Korean won is divided into Chon; there are 100 in one won.

Credit rating
Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of North Korea.

Central bank
In North Korea, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of the Democratic People's Republic of Korea. Locally, the central bank of North Korea is called 조선민주주의인민공화국중앙은행.

Public debt
North Korea has a government debt of 144% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in North Korea is set at 25%. Personal income tax ranges from 0% to 20%, depending on your specific situation and income level. VAT in North Korea is 4%, and it is known as Korea VAT.