North Korean cell phones earn Egypt $500 million

According to South Korea's Chosun Ilbo website, Egypt's Orascom Telecom posted a financial audit report on its official website a few days ago, showing that the company has earned more than US$500 million by providing mobile communications services in North Korea.

In addition, it is estimated that the number of mobile communication users in North Korea has reached 2.4 million.

According to a financial audit report on Oricon Telecom issued by Deloitte, one of the world's four largest accounting firms, at the end of September, the cash balance of North Korea's mobile communications operator Koryolink increased from $510 million at the end of June to $540 million at the end of September. Oricon Telecom is a major shareholder of Koryolink.

It is reported that due to relevant regulations of the North Korean government, Oscom Telecom was unable to convert its cash income into foreign currency and could not remit money to Egypt, and could only keep it in North Korean currency.

It is reported that Oscom Telecom is negotiating with the North Korean authorities on this issue.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.