Luxury imports have jumped to 10 percent of national budget since Kim Jong-Un’s rise to power

Special to WorldTribune.com

SEOUL — North Korea’s imports of luxury goods have surged to over 10 percent of its annual budget in 2012, the first year of youthful leader Kim Jong-Un in office according to a South Korean government report.

North Korean leader Kim Jong-Un and wife Ri Sol-Ju visit the Haedanghwa shopping mall in Pyongyang. /KCNA

Analysts and officials attributed the sharp rise, despite worsening economic troubles and international sanctions, to Kim’s penchant for luxury brands and his “gift politics” to reward the ruling elite with expensive foreign goods to win their loyalty.

The destitute nation imported $645.9 million worth of luxury goods in 2012, compared with $584.8 million in 2011 and $322.5 million in 2007, the Unification Ministry said in a report submitted to parliament for an annual audit.

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“gift politics”, Luxury imports have jumped to 10 percent of national budget since Kim Jong-Un’s rise to power, Unification Ministry

Luxury imports have jumped to 10 percent of national budget since Kim Jong-Un’s rise to power added by World Tribune on October 31, 2013
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