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Death by Derivatives

The opening of a canal in 1848 led to the birth of modern financial derivatives, and the early demise of some of the men who traded them
Written by Michael Durbin • 13 minute read

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The Democratic People’s Republic of Begonias

An iconic sight in the Democratic People’s Republic of Korea is the Kimjongilia. This hybrid begonia was bred by a Japanese botanist and presented to Supreme Leader Kim Jong-il in 1988. It soon became part of the diplomatic toolkit. The North Korean government has sent the flower to a number of countries as a sign of friendship, and the Kimjongilia won the gold medal at the 1991 International Flower Show in Czechoslovakia.

The Kimjongiliia is displayed domestically as well. Like the Kimsungilia, an orchid clone presented in 1965 by Indonesian president Sukarno, the Kimjongilia forms part of an “international friendship botanic garden” in Pyongyang’s Central Botanic Garden. This garden also includes greenhouses dedicated to the Kimjongilia and Kimsungilia. And, as presided over by a 232-member Funeral Committee, Kimjongilia flowers were prominently displayed around the corpse of Kim Jong-il during his 11-day mourning period.

The North Korean state takes this flower seriously. As reported by the state news agency KCNA, the Kimilsungia and Kimjongilia Research Centre created a chemical concoction to extend the blooming period of the Kimjongilia by up to 20 days. And the DPRK State Administration for Quality Management notes that the Kimjongilia “is a rare bright and crimson flower that represents the personality of the energetic great man as dozens of corrugated evenly-arranged petals form a big, clear and lovely flower supported by heart-shaped leaves”. It’s not all flowery talk, however. The State Administration for Quality Management sets standard specifications for the plant – for instance, the female flower should have exactly four or five petals. Growers who deviate from these requirements are subject to legal penalties.

Apparently plans are afoot to breed a Kimjongunia. But, as with much that stems from North Korea, information about the new flower is nebulous.

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