Koryolink continues to expand customer base
North Korea’s only mobile operator, CHEO Technology, which offers services under the Koryolink brand, has signed up 69,261 customers as at 30 September 2009.
The company was awarded a 25-year licence to operate 3G services in January 2008, with the first four years on an exclusive basis. It is owned by Orascom Telecom Holding of Egypt (75%) and state-owned Korea Post and Telecoms Corporation (25%). Koryolink launched services in December 2008 in the capital Pyongyang, but the network has since been expanded to include the main road running up to the northern city of Hyangsan, with the company currently working on expanding services nationwide. In the first nine months of 2009, the cellco reported revenue of USD18.5 million, while earnings before interest, tax, depreciation and amortisation (EBITDA) reached USD9.99 million with a margin of 54%. Average revenue per user (ARPU) for the third quarter of 2009 totalled USD21.6, down from USD22.8 in the previous quarter. With a focus on network rollout and network quality improvement, Koryolink invested USD25 million in the first nine months of 2009.
See more in NK Economy Watch…
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Fast food in North Korea
[Photos by courtesy of Koreakonsult, NK Economy Watch]
Times Online
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Markets in North Korea
A snack kiosk and bicycle repairing station in Ryonggang county near Nampo (2007)
A snack kiosk in Pyongyang subway (2007)
A snack kiosk in Pyongyang subway (2007)
Ice cream kiosk in Pyongyang subway (2007)
Ice cream kiosk in Pyongyang subway (2007)
Entrance of the Tongil farmers market in Pyongyang (2007)
Inside the Tongil farmers market in Pyongyang (2005)
Foreign and local cars at the entrance of the Tongil farmers market in Pyongyang
Fast food shop sign in Changgwang Street, Pyongyang
Food stalls in Changgwan Street in Pyongyang (2007)
Food stall in Changgwang Steet, Pyongyang (2007)
Given the multiple exchange rates system in North Korea the above prices can be deemed as modest or extremely expensive (depending on the exchange method):
- NK official exchange $1 USD = 156 KNWon (for visiting foreigners and official transactions)
- NK black market exchange rate: $1 USD = 3,000 KNWon (for the locals and foreign residents)
Average monthly salary varies from 5,000 ~ 50,000 NKWon (2007)
Cigarettes price list (2005)
Cooking Oysters on Petrol in North Korea …
Making BBQ on car petrol might sound like a crazy idea: it’s dangerous and not healthy. But in North Korea, where firewood is a luxury, this method is the most popular way to have a picnic. All you have to do is to forget about the bitter lead aftertaste in your mouth and enjoy the atmosphere of friendship and hospitality…
LP
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Kernbeisser’s photostream
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