A Solution For the Currency Crisis
The initial suggestion in this article concerns progressive slot machines. A few of the casinos in Seoul offer this kind of game including Seoul Max, Lotte Card World and the Oriental Casino. You must pay a small entrance fee to utilize these machines. When you place your bet, the computer tells you 블랙 잭 룰 whether to win or lose. If you win, you can keep what you have bet but if you lose, you are from it. These types of progressive casinos in Seoul provide a combination of games including baccarat, video poker, roulette, craps, blackjack, and much more.
The next suggestion concerns making deposits. To be able to withdraw from these casinos, residents have to pay certain charges. For instance, foreigners can withdraw money by paying a surcharge to the embassies. residents can make deposits in person or utilize the credit card provided upon entry.
Some Korean online casinos do not accept major currencies. Residents of Korea who intend to play Korean casino must make deposits in their local currency equivalent. Lots of the local residents are accustomed to exchanging their won for won monies at home so they may convert this amount into currency at the casino. Many foreign players make deposits in the local currency to avoid conversion issues when traveling back again to Korea.
A third suggestion is to limit the volume of cash to be withdrawn from web sites of the Korean casinos. This is also true for residents of some of the cities in Korea. Some of the cities such as Ulsan, Cholsan, Suwon and Hakdo hold restrictions against people who want to withdraw too much cash from the casino. A number of the national and international airlines along with banks in Korea usually do not accept most of the credit cards that are issued in the country.
The four suggestions noted above could possibly be used to limit the money that a foreigner player can withdraw. This might prevent currency manipulation by the Koreans at the casinos, which would favor the local vendors over the national companies. The Korean government would form free enterprise zones from coast to coast where the locals will be the main investors. Along with these zones, the north-korean leadership could levy a tax on goods imported from other countries just like the western world and Japan.
Since the north-korean government has been very hostile to america and its allies during the past, the locals of the Korean casinos might try to bribe the workers of these companies into helping them install the currency exchange rate cap. Once the cap is implemented, the quantity of foreign currency which can be withdrawn would drastically reduce. Quite often, the workers of these companies would agree to work at a lower wage due to the risk of losing their jobs. These occurrences certainly are a direct result of the lack of free enterprise zones in the north-korean leadership. Therefore, if america really wants to protect its citizens from currency manipulation, they might need to institute a policy similar to the one proposed by the Korean government.
The south-korean government also needs to institute some policies like the northern ones in order to curb the capital outflow that is causing problems for the locals of the Korean casinos. A similar strategy would work by means of a currency trade deficit quarantine area, which limits the amount of imports and exports from the region. In the case of the casino case, the Koreans will be necessary to have a quota for the amount of guests that they allow into the casinos on any given day. If the south-korean authorities believe that the amount of foreigners is too high, they could force the owners to allow only local Koreans to be allowed in to the casinos.
In conclusion, the current economy in the Korean Peninsula may force the north-korean leadership to look to the international community for help in dealing with their currency crisis. North Korea has an interest in coping with its currency issues because the value of the ROK’s dollar is roughly 2-3 times higher than the dollar of america. Therefore, the tourists that go to the north-Korean leadership will have an interest in trying to take advantage of this weakness in the dollar by making deposits in their local currency. This would be a good thing for the local residents of the Korean peninsula. Unfortunately, the north-korean government is apparently unwilling to do anything relating to this currency issue. Hopefully, this can change in the near future.