What We're Watching

Your next dream vacay: Wonsan, North Korea

PYONGYANG, North Korea - A group of women visit a beach resort in Wonsan, North Korea, in September 2013. The women said they are coworkers at a clothes factory in the capital Pyongyang and their trip to Wonsan is a reward for an increase in output.
PYONGYANG, North Korea - A group of women visit a beach resort in Wonsan, North Korea, in September 2013. The women said they are coworkers at a clothes factory in the capital Pyongyang and their trip to Wonsan is a reward for an increase in output.
Kyodo via Reuters Connect

North Korean leader Kim Jong Unvisited the site of the country’s long-delayed Wonsan-Kalma resort zone for foreign tourists on Tuesday and discussed opening it by May 2025, state media reported on Thursday. There’s just one problem: Who wants to vacation in North Korea?

Well, historically, a pretty decent number of people, believe it or not. In 2019, about 300,000 foreign tourists took highly controlled vacations to the Hermit Kingdom. About 90% came from China, but a few thousand Westerners forked over exorbitant fees for visas and guided tours, ethical concerns notwithstanding. Wonsan-Kalma, with its well-groomed-if-somewhat-frigid beaches, luxury accommodations, and nearby ski facilities, was originally meant to service that market.

You might remember during that bizarre period of US-DPRK rapprochement in 2018-2019, GOP mega-donor Sheldon Adelson even floated the idea of building a casino in Wonsan. But tourists haven’t been allowed back since Pyongyang shut its borders during the COVID-19 pandemic. Kim would like that revenue back, and he probably prefers that his signature tourist project not end up like the extremely creepy and never-to-be-finished Ryugyong Hotel that has loomed over the capital’s skyline for nearly 40 years.

But before you rush to book a vacation, think about the true costs. The resort sits just miles from the site of Kyo-hwa-so No.88, where prisoners were forced to quarry stone in horrific conditions from at least 1985 to 2021 — and it remains unclear if the facility has been shuttered or just made smaller.

More For You

Mastercard Economic Institute's Outlook 2026 explores the forces redefining global business. Tariffs, technology, and transformation define an adaptive economy for the year ahead. Expect moderate growth amid easing inflation, evolving fiscal policies, and rapid AI adoption, driving productivity. Digital transformation for SMEs and shifts in trade and consumer behavior will shape strategies worldwide. Stay ahead with insights to help navigate complexity and seize emerging opportunities. Learn more here.

Miami Mayor-elect Eileen Higgins points as she thanks her staff and supporters on the night of the general election, on Tuesday, Nov. 4, 2025.
Carl Juste/Miami Herald/TNS/ABACAPRESS.COM

A Democrat won Miami’s mayoral race for the first time in nearly 30 years. The Republican defeat will ring some alarms for the party – and their support among Latino voters.

Women work in the plastic container assembly area inside the El Oso shoe polish factory, located in Mexico City, Mexico, in its new facilities, after officers from the Secretariat of Citizen Security and staff from the Benito Juarez mayor's office arbitrarily and violently remove their supplies, raw materials, machinery, and work tools on January 17 of this year following a coordinated operation stemming from a private dispute. On August 27, 2025.
Photo by Gerardo Vieyra/NurPhoto

50: Mexico’s President Claudia Sheinbaum is taking a page out of US President Donald Trump’s book, implementing up to a 50% tariff on more than 1,400 products in a bid to boost domestic production.