September 19, 2021

North Korea claims new credit card service

Details thin on how credit card system in absence of supporting financial infrastructure

North Korea has announced the launch of a credit card system which can already be used in certain department stores, the Korean Central News Agency (KCNA) reported today.

Dubbed the “Sangyon," the new system can reportedly be used 24 hours a day and was developed by North Korea’s Institute of Commercial Science.