Kim Jong-un slashes beer prices to get rid of stock

 
Natasha Clark
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The festival aimed to improve access to local beers across the country (Source: Getty)

North Korean dictator Kim Jong-un has cut the price of beer to get rid of excess ale that was bought for a festival in the summer.

Demand has soared since Ryongsong Beer’s price was cut in half from 3,000 North Korean won to 1,500, and Taedong River Beer was reduced from KPW 6,000 to 5,000.

It is thought that production was increased in the run up to the 20-day festival held in August, but not all of it was consumed. Now it is being sold off on the cheap to get rid of the extra stock.

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Sources told Daily NK, a South-Korean news source, that the festival, held in the capital, Pyongyang, was "wasteful" and reflected poorly on Kim Jong-un's leadership.

It was intended to shore up support by appealing to city elites, foreign visitors and to show off local produce, but most of the country already have to work hard to earn enough to buy food.

Read more: North Korean deputy ambassador to the UK defects with his family to South Korea

Millions are thought to be starving throughout North Korea, but the slashed prices have allowed some to be able to afford beer.

The UN have cracked down on North Korea in recent weeks after the nation conducted another nuclear test and launched a long-range rocket.

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