Does North Korea Need a Sovereign Wealth Fund?

pyongyangThe nation of North Korea struggles to improve gross domestic product per capita. According to the Central Intelligence Agency per capita GDP for 2011 was estimated to be at US$ 1,800, a number far lower than South Korea. Sandwiched between China and South Korea, the communist nation has little arable land and a lackluster industrial economy. North Korea has mountains and plenty of them. The mountainous region brings metals and rare earths to be recovered. Current known deposits in North Korea include iron ore, coal, limestone and graphite.

Financing rare earth development in North Korea coupled with growing the capacity for mineral extraction operations could bring in potential revenue for the regime.

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