Central Bank of the Democratic People's Republic of Korea

The Central Bank of the Democratic People's Republic of Korea is North Korea's central bank. Established on December 6, 1947, it issues the North Korean wŏn. Ri Kwang-gon is its president since April 2009.

History

On February 15, 1946, a central bank of North Korea was announced, which was to be under the control of the Soviet Union military. The consilidation reflected a return to the original objectives of the People's Committee which wanted closer control over the economy; any opposition from banking people to the changes within the system were removed from their posts. On December 6, 1947, a comprehensive program of currency reform was announced.

In 1959, the Central and Farmers' banks were merged to form...
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