North Korea has long been regarded as a poor country but it turns out that North Korea is a lot richer than we thought, or at the very least has the potential to be.
Recent reports have surfaced that the hermit kingdom may actually be sitting on a massive fortune in the form of untapped mineral resources. Researchers from South Korea have estimated North Korea’s mineral deposits of iron, gold, magnesite, zinc, copper, limestone, molybdenum, and graphite, among others, to be worth a least $6 trillion (RM25.8 trillion). You do realize we’re talking about 12 zeros here, right?
What’s interesting is that the country also reportedly holds significant deposits of rare-earth metals, metals needed to make smartphones, computer components, and other technological products.
While researchers are certain that North Korea has massive underground wealth, taking advantage of this remains another issue, and the exact estimates of North Korea’s potential wealth are difficult to obtain.
According to visiting fellow at the Australian National University College of Asia and the Pacific, Leonid Petrov, an expert on North Korea, placing the figure at $6 trillion (RM25.8 trillion) while possibly unrealistic, is difficult to verify.
Petrov confirmed that North Korea indeed has a wealth of natural resources, which the country has exported over the years to allies such as China and Russia. However, with limited potential buyers and lack of sufficient mining equipment, North Korea may not have been trading its products to its actual worth!
“North Korea is very rich in natural resources and while they have some technology, it doesn’t have strong foreign investment and investment capital.”
China currently partakes on about 90% of North Korea’s external trade.
“China is interested in keeping North Korea as a closed market for precious metals.”
We are still unsure on how Kim Jong-un will utilize its natural wealth as the military has been taking a huge portion of the country’s budget.
What do you think of the shocking discovery? Do you think the dictator will ever develop his country to be better, or will he live it in poverty? Let us know your thoughts in the comments below!
(Source: Next Shark)