- Regulation on Jangmadang has been limited because foreign currency flow has decreased due to U.N. Sanctions
- According to the Finance and Accounting Department at the Central Party, the capacity for foreign currency earning by individuals grew 13 times over the past 6 years.
- National Safety Agency insists on regulation of Jangmadang
- When foreign currency flow improves, regulation of Jangmadang will resume
According to a high-level source in North Korea, National Safety Agency, Finance and Accounting Department at the Central Party, and other finance departments within the government are clashing on the issue of regulation of Jangmadang.
The Finance and Accounting Department and other finance departments in the government are of an opinion that the regulation of Jangmadang can be relaxed due to the lack of foreign currency inflow due to the U.N. sanctions. If Jangmadang is regulated now, the economy will only get worse, and foreign currency in individuals' closets will only stay there. The Finance and Accounting Department thinks that the foreign currency earning capacity of individuals increased 13 times since 2002. On the other hand, government's finance has only gotten weaker.
Therefore, if the government regulates Jangmadang, it will result in less flow of foreign currency that belong to individuals, resulting in less flow of foreign currency in the whole of North Korea. Regulation of Jangmadang will only worsen the existing economy and foreign currency flow.
However, the National Safety Agency thinks otherwise. If Jangmadang is not regulated, it is difficult for the government to regulate the price of food, oil, or medicine, as well as to regulate the citizens.
The North Korean Government is experiencing difficulties- It is declaring that it would regulate Jangmadang, but without proper capacity. However, the source informed that after the sanction is relaxed and foreign currency flow increases, the government may again be able to regulate Jangmadang. U.N. sanctions are in effect protecting Jangmadang which is the starting point of capitalism.