Special to WorldTribune.com

By Lee Jong-Heon, East-Asia-Intel.com

SEOUL — North Korea’s move towards easing military tensions with wealthy South Korea is prompted by the lack of hard currency critical to Kim Jong-Un’s grip on power, officials and sources here said.

The North has been earning foreign currency from exports of coal and iron ore to China, but revenues dropped due to weak demand and lower prices, the sources said.

“China has reduced coal and iron ore imports from North Korea and demanded lower prices, citing poor quality and has even sent back some shipments,” said a source who has contacts with Chinese businesses.

The North has sent more workers to China, opened more restaurants in China and even sold works of art, while trying to attract foreign tourists, the source said.

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  coal and iron exports, Kim Jong-Un, N. Korea’s moves towards Seoul seen motivated by cash crunch, sold works of art