The ‘crazy dictator’ will build a stockpile of nuclear weapons, know how North Korea raises billions of dollars for new ballistic missiles?

North Korea’s crazy ruler Kim Jong Un has scared the whole world with one of his statements. North Korea’s Supreme Leader has said that he is going to increase the number of nuclear weapons in his country. Apart from this, Kim Jong Un has also asked his soldiers to be ready for war.

After this statement of Kim Jong Un, a debate has started about where does the poor country North Korea get the money to buy new ballistic missiles and who gives money to Kim Jong Un to strengthen the army? Let us tell you what is the source of income of North Korea.

Earlier the economy was dependent on agriculture

According to Britannica’s report, North Korea’s economy is centralized. That is, the sources of income in the economy are not of different types but are limited. If we look at the history of North Korea, before 1950, its economy was heavily dependent on agriculture, but gradually the contribution of agriculture decreased.

Foreign investment in select sectors only

On one hand, countries around the world are attracting foreign investors to their countries.
You will be surprised to know that North Korea does not allow foreign investment anywhere except in selected sectors.

Know how North Korea earns money

> China has been giving credit loans to North Korea for a long time. Apart from this, from time to time North Korea also takes financial help from Russia, which can be used for manufacturing weapons.

> About 200 types of minerals are extracted from mines in North Korea, which are sold to different countries. These include minerals like iron, coal, gold, magnesite (magnesium carbonate), lead and zinc. Apart from this, tungsten, graphite, barite (barium sulphate) and molybdenum are also extracted from mines here.

> Here the government itself operates industries by forming cooperative societies. Industrial and agricultural machinery is manufactured in several other cities including Kangsŏn and Huichŏn near Pyongyang. Chemical production is focused on fertilizers and petrochemicals, most of which are manufactured in the Anju region north of Pyongyang. The textile industry is concentrated in Pyongyang, Sinuiju and Sunchŏn.

> Korea has only one bank, the Central Bank of the Democratic People’s Republic of Korea. There are several other state banks that are overseen by the Central Bank. One of these is the Foreign Trade Bank, which handles all foreign transactions and, when applicable, foreign currencies.

> North Korea previously traded only with the Soviet Union and China, but since the 1960s it has started trading with many countries. Major trading partners include China, South Korea, Russia, Japan, India and Thailand. North Korea exports live animals and agricultural products, clothing, machinery, mineral fuels and lubricants. In return, it earns a good amount of money.