The German Naval Training Association — Deutscher Marinebund — is a veterans' and enthusiast organization founded in 1898, with no obvious connection to the DPRK. North Korea's Foreign Trade Bank issued a series of collector tokens around 2000 targeting European and Asian novelty markets, and this piece falls squarely within that program: denominated in Won but never intended for domestic circulation, produced for hard-currency export sales. The Marinebund theme was almost certainly chosen by a foreign licensing intermediary, not Pyongyang.
The German Naval Training Association — Deutscher Marinebund — is a veterans' and enthusiast organization founded in 1898, with no obvious connection to the DPRK. North Korea's Foreign Trade Bank issued a series of collector tokens around 2000 targeting European and Asian novelty markets, and this piece falls squarely within that program: denominated in Won but never intended for domestic circulation, produced for hard-currency export sales. The Marinebund theme was almost certainly chosen by a foreign licensing intermediary, not Pyongyang.