Pyongyang Department Store No. 1

Coordinates: 39°1′3.3″N 125°46′42.06″E / 39.017583°N 125.7783500°E / 39.017583; 125.7783500 The Pyongyang Department Store No. 1 is a major retail store in Pyongyang, North Korea, catering mainly to the local community.

Pyongyang Department Store No. 1)
Paradise Department Store - taken from the first floor down towards the ground floor.

Located in downtown Pyongyang, it is one of the largest retail stores in the country and is often the site of large commodity exhibitions.[1] The store offers a wide variety of items including foodstuffs, electronics, clothing, and furniture.[2] As of 2013, approximately 70% of the items in the store are produced domestically.[3] The store is also one of several official tourist stops in the city.[4] While in other, more upmarket, department stores, like Paradise Department Store, only hard currency or a hard-currency related Won debit card is accepted as payment for the goods, in Department Store No. 1 only local currency is accepted.[5]

The store, along with two others, are run reportedly jointly with Chinese business partners.[6] It is not open to foreigners.[7]

See also

References

  1. ↑ "Commodity Exhibition Held at Pyongyang Department Store No. 1". Korean Central News Agency. Dec 6, 2012. Retrieved July 6, 2013.
  2. ↑ Pak Won Il (Feb 25, 2012). "North Koreans Experience The Marvels Of A Supermarket Firsthand". Business Insider. Retrieved July 6, 2013.
  3. ↑ Curtis Melvin (Feb 22, 2013). "North Korean products in department stores on the rise". North Korean Economy Watch. Retrieved July 6, 2013.
  4. ↑ "Kumgangsan Tour". Koryo Tour Group. Retrieved July 6, 2013.
  5. ↑ e.g. Andrei Lankov, Money matters: the three-tiered system of the 1980s North Korean currency, NKNews 28 May 2014;http://www.nknews.org/2014/05/money-matters-the-three-tiered-system-of-1980s-north-korean-currency/ and Rob York, Black market cash, The real value of N. Korean Won, in: NKNews, 1 September 2014; http://www.nknews.org/2014/09/black-market-cash-the-real-value-of-n-korean-won/
  6. ↑ Jae Cheol Kim (Nov 1, 2006). "The Political Economy of Chinese Investment in North Korea". North Korean Economy Watch. Retrieved July 6, 2013.
  7. ↑ http://www.lonelyplanet.com/north-korea/pyongyang/shopping/department-store/department-store-number-one
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