How rich is North Korea?

In the minds of many, North Korea has long been a country plagued by chronic poverty. But in reality, the nation is very wealthy.

North Korea possesses a wide variety of minerals, estimated to be worth at least $6 trillion. This reclusive nation sits atop a vast, largely untapped resource pool, including iron, gold, magnesite, zinc, copper, limestone, and more.

Iron ore deposits in Musan. Photo: Reuters

That resource also contains a large amount of rare precious metals used in the production of smartphones and other technology products.

In total, North Korea has approximately 200 types of minerals.

Although the country possesses abundant underground resources, how it utilizes this "gift from nature" is another matter entirely.

According to The Economist, it is very difficult to accurately estimate the potential value of North Korea's underground assets.

Back in 2012, a South Korean research institute estimated the value of this asset base at $10 trillion, significantly higher than that of its southern neighbor.

Leonid Petrov, a North Korea expert, said that for decades, Pyongyang exported various minerals to countries such as China and the Soviet Union, but recently, due to international sanctions, its export capacity has been reduced.

According to this expert, due to a lack of suitable mining equipment and customers for rare metals, North Korea is having difficulty selling what it extracts from the ground.

Nevertheless, mining remains the backbone of the North Korean economy. Many experts believe this is how the country manages to obtain funds for military spending.

According to Vietnamnet.vn