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The Inquiry

Is North Korea Broke?

The Inquiry

BBC

News Commentary, News

4.61.7K Ratings

🗓️ 24 May 2018

⏱️ 23 minutes

🧾️ Download transcript

Summary

North Korea has been under sanctions for many years. But this isolated economy is showing signs of life that might surprise you. From hacking and counterfeit money to coffee shops in Pyongyang, we investigate what life is like in North Korea and how the state makes its money.

Presenter: Celia Hatton Producer: Josephine Casserly

(Photo: A woman shopping at the Kwangbok, or 'liberation', department store in Pyongyang. Credit: Ed Jones/AFP/Getty Images)

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to the inquiry on the BBC World Service. I'm Celia Hatton.

0:09.0

Each week we bring you four expert witnesses answering one pressing question from the news.

0:16.2

In the North Korean capital, Pyongyang, there's a building some call the hotel of doom,

0:27.0

shaped like a pyramid and built in a severe Soviet style, it's covered in green reflective glass.

0:30.0

It looks like something out of a superhero comic.

0:34.7

The hotel has been looming over the city center

0:37.4

for more than two decades, but so far,

0:40.6

no one's ever checked in for a stay.

0:43.0

At one hundred and five stories, the Hotel of Doom,

0:48.0

known officially as the Yugyung Hotel

0:51.0

is the tallest unfinished building in the world.

0:54.8

Why is it empty?

0:56.7

Most assume the North Korean regime ran out of money to finish off the building's 800

1:02.3

rooms or to provide power or water to future guests.

1:07.2

Others say the elevator shafts were built at an angle,

1:11.0

making them unusable, and there's no money to fix them.

1:15.0

Contrast that dismal story with this scene last year.

1:25.0

The North Korean leader, Kim Jong-un,

1:28.0

in front of ecstatic crowds at the opening of a new apartment complex,

1:32.0

located not far from the decaying hotel.

1:36.3

Piong Yang Skyline has been transformed under Kim the third, so much so that it's now

1:42.4

dubbed Piong Hatton. But those buildings too pose a bit of a

...

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