A REMEDY For the Currency Crisis
The first suggestion in this article pertains to progressive slot machines. A few of the casinos in Seoul offer this type of game including Seoul Max, Lotte Card World and the Oriental Casino. You need to pay a small entrance fee to utilize these machines. Once you place your bet, the computer tells you whether to win or lose. If you win, you get to keep what you have bet but in the event that you lose, you are out of it. These kinds of progressive casinos in Seoul provide a mix of games including baccarat, video poker, roulette, craps, blackjack, and more.
The next suggestion concerns making deposits. So that you can withdraw from these casinos, residents need to pay certain charges. For instance, foreigners can withdraw money by paying a surcharge to the embassies. residents could make deposits in person or use the credit card provided upon entry.
Some Korean online casinos usually do not accept major currencies. Residents of Korea who intend to play Korean casino must make deposits within their local currency equivalent. A lot of the local residents are used to exchanging their won for won monies in the home so they may convert this amount into currency at the casino. Many foreign players make deposits in the local currency in 블랙 잭 룰 order to avoid conversion issues when traveling back to Korea.
A third suggestion would be to limit the amount of cash to be withdrawn from the websites of the Korean casinos. This is especially true for residents of a number of the cities in Korea. A few 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 few of the national and international airlines and also banks in Korea do not accept most of the bank cards that are issued in the united kingdom.
The four suggestions noted above could possibly be used to limit the amount of 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 the United States and its allies in the past, the locals of the Korean casinos might try to bribe the workers of these companies into helping them install the forex rate cap. When the cap is implemented, the number of foreign currency which can be withdrawn would drastically reduce. Most of the time, the workers of the companies would agree to work at a lower wage because of the threat of losing their jobs. These occurrences are a direct result of the lack of free enterprise zones in the north-korean leadership. Therefore, if america wants to protect its citizens from currency manipulation, they might need to institute a policy like the one proposed by the Korean government.
The south-korean government must also institute some policies similar to the northern ones so that you can curb the capital outflow which is causing problems for the locals of the Korean casinos. A similar strategy would work in the form of a currency trade deficit quarantine area, which limits the amount of imports and exports from the spot. In the case of the casino case, the Koreans will be necessary to have a quota for the number of guests that they allow in to the casinos on any given day. If the south-korean authorities believe that the number of foreigners is too high, they could force the owners to allow only local Koreans to be allowed into the casinos.
In conclusion, the current economic situation in the Korean Peninsula may force the north-korean leadership to look to the international community for help in coping with their currency crisis. North Korea has an interest in dealing with its currency issues since the value of the ROK’s dollar is roughly two to three times greater than the dollar of america. Therefore, the tourists that visit 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 considered a good thing for the neighborhood residents of the Korean peninsula. Unfortunately, the north-korean government seems to be unwilling to do anything concerning this currency issue. Hopefully, this can change in the near future.