Skip to comments.Choco Pies fuel productivity at Gaeseong(Korean Black market Currency)
Posted on 09/17/2012 4:39:08 AM PDT by jakerobins
Choco Pies and other foods are increasingly being distributed as incentives for North Koreans at the joint Gaeseong Industrial Complex, South Korean businesses said Monday, in a sign that workers are increasingly savvy to capitalist ways.
The chocolate-covered biscuits have been used as incentives in the zone for years. But a report by the Corporate Association of Kaesong Industrial Complex, a group of businesses working in the zone, said distribution of the pies had become an increasingly important part of the work culture in the past two years.
A result of the landmark inter-Korean summit in 2000 between the late President Kim Dae-jung and North Korean leader Kim Jong-il, tens of thousands of North Koreans work at about 120 South Korean firms at the complex.
Because the distribution of pay is tightly monitored by the North, the businesspeople have searched for ways to increase productivity through incentives. Items such as Choco Pies are thought to be sold in the Norths bourgeoning markets for a tidy profit. Instant noodles and eggs are also passed out by the firms
(Excerpt) Read more at koreatimes.co.kr ...
Someone has been smuggling Choco-Pies into North Korea? lol
There were those who were actually counterfeiting AAFES (Army/Air Force Exchange Services) price tags, and putting them on products easily procured on the Korean economy.
The seller could mark up the price by (mis)representing the goods as "black market", and the buyer had the additional status of serving his friends "black market" beer, cheese, coffee, etc.
I would imagine norks are even more susceptible to the temptation not only because of the inherent shortages in their system, but also because of the added allure of owning forbidden goods.
Choco Pies are apparently like Moon Pies without all the health concern (/s)... and addictive too
Like how medical insurance became tied to employment here during WW II. Employers couldn't raise pay, so they added perks like insurance which fell below the notice of government wage and price regulators.
if someone took his choco-pies they’d probably be dead.
You are so right. in the early 2000s here was so much “black market” stuff in the thousands of little local markets with the AAFES stickers still attached that in the aggregate it would have dwarfed the quantity actually on the shelves at the Yeongsan commissary.