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Do North Koreans Actually Make Money?

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Less than 30 years ago, North Koreans were more than twice as wealthy as their comrades in China. Now, they're significantly poorer. Here's how it happened. ---------- Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/
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Text Comments (286)
Bezz80 (11 hours ago)
The real question is, "Do Americans make money?" in the slave system. You people...fraudsters should be hung.
Guyana South America (16 hours ago)
do the white man actually make money and buy everything he wan't.
awesomehead bros (22 hours ago)
If they want money make drugs
kim jong un (23 hours ago)
Yes lots of it
cameron burke (1 day ago)
I just realised that Kim Jong Un is literally Jabba the Hutt. Crime syndicates Assassinations abroad Cult of personality They even look the same The resemblances is uncanny
Aawin Matriano (1 day ago)
Korean War didn’t end in the time frame you posted. It was an armistice.
EGEY SH*G (1 day ago)
Why does North Korea make money there people just eat dirt.
achancery10 (1 day ago)
The first 1 minute and 40 seconds is so wrong it’s unreal. Their economy collapsed because they stopped getting subsidized by the failure that was the Soviet Union. But let’s blame generations of poverty and strict dictatorship on a drought.
Avelino Davila (1 day ago)
how is 3,000 won equate to a street value of .40?
Matthew Creary (1 day ago)
All governments are inherently the same...POWER HUNGRY BUSINESSES.
Davis Wetter (2 days ago)
The Korean War didn’t end until 2018
Regimeshifts (2 days ago)
So you pose the question, and you dont answer it. Great/
Baxter Ross (2 days ago)
Is this communist propaganda?
general kyle west (6 hours ago)
Baxter Ross are you stupid? North korea isn't communist
Casper G (2 days ago)
ye but realisticly what can they even do if they simply dont have the resources ??????????
Ras Putin (2 days ago)
#1 in arms seller in black market. #1 in producing counterfeit us currency. No wonder us is mad, hates competition!
D 1 (2 days ago)
Office 39!! That's a cool name
cupisukk (2 days ago)
Lyonen Cheeten (2 days ago)
They get 50 cent for every MAGA hat they make
DrAluful (2 days ago)
fuck usa, the only real terrorists on this planet. america first MY ANUS!
and they make fake US dollars, counterfeit bill industry is booming
H Eck (2 days ago)
Trump gonna win 2020
Dino Kross (2 days ago)
(((Communism))) is toxic to the Goyim.
sourab saklecha (2 days ago)
"After the end of the Korean war..." ???? The Korean war never ended Bloomberg! It's still on...get your facts right.
Dalmain J (2 days ago)
Kim 2021! That's when he gon bomb us 😂
koo jaba (2 days ago)
Kim have raw material under his land about $6-10 trillion USD in case you wonder. why ? US News and US government piss of so much . After he open North Korea country. he and his friends (south Korea, china and Russian) will become one group of the riches country in the word.
Raeof Sunshine (2 days ago)
NK will go with China to help the food situation. China is turning deserts in Mongolia into fertile soil & growing food there.
zoyzoycornface (3 days ago)
they were quiet wealthy before the fall of the soviet union
Catobis (1 day ago)
zoyzoycornface Because Russians gave them money and help
jose chavez (3 days ago)
Why y'all trying be like Vox?
Kevin Yu (3 days ago)
by the math, chinese are almost 3 times poorer than north koreans, this makes 0 sense to me
SMGJohn (3 days ago)
Can I have evidence? Oh wait, its not real is it? Explains it all kind of like the flat earthen, inbred and thinks the moon landing was fake the only evidence they can provide is the medical documents for their own insanity.
sweiland75 (3 days ago)
North Korean men don't work?
Its Rin (3 days ago)
'switching to a more china-like system' whats the difference?
MiguelPpM (3 days ago)
Its Rin China is adopting capitalist principles although the communist party stays in power.
Anonymous Anonymous (3 days ago)
it's not true that 3k won is 40 cents. 3k won is actually around $3.50. Get it right Bloomberg.
Ikreisrond (3 days ago)
Actually the concept of our economic system is like many millennia old. It’s like we would still transport goods by donkeys, cook with wood fires and hunt with bow and arrow. So basically they would turn back to an ancient system.
Infantile Ultra (3 hours ago)
Ikreisrond capitalism is less than 300 years old
DrWack0 (3 days ago)
a famine didn't just happen because of natural occurrences.. otherwise, the south would have starved too or at least had shortages, no famines are a result of a failed system. Communism always causes starvation, even if it takes a few years...
DrWack0 (2 days ago)
You may be unaware of the extent of the repression and horrors caused by central planning and totalitarian governments.
ndrthrdr1 (2 days ago)
You may be unaware of the extent of the sanctions.
DrWack0 (2 days ago)
ndrthrdr1 there's no reason for starvation they can grow their own food, in fact in the 90s the US Gave food to dprk. Mismanagement and corruption kills people like in every other communists country
ndrthrdr1 (2 days ago)
U.S. sanctions have produced poverty there.
John Carter (3 days ago)
They use monopoly money, a game is N-Korea, with only losers
Mullah Omar (3 days ago)
So basically those kim yum yum bills aren't worth the paper there printed on.. Yep sounds about dictatorish to me...
ِ ِ (3 days ago)
Lol Haven't they faked dollars like in a massive scale?
Michal Rajda (3 days ago)
Does* u idiot
Zalden N (3 days ago)
they're getting papperr, LOOOK 'em now OHHH
MrBoliao98 (4 days ago)
Cmon, North Korea practically use the RMB
AN LY (4 days ago)
This is why Trump calls Bloomberg are fake news LOL
NOBEL DJ (4 days ago)
socialism works? nope
ndrthrdr1 (2 days ago)
Yes, Denmark is socialist. That's why their taxes are high. They get free health care, though.
NOBEL DJ (2 days ago)
is denmark truely socalist? then lets see how venezuela is going and denmark is a represenative democracy that has political parties also they have 60,2% tax on income over 55k
ndrthrdr1 (2 days ago)
Look at Denmark. Yes, socialism works -- unless USA is imposing crippling sanctions.
Mr. Bangladesh (4 days ago)
Sad, North Korea stole $81 Million from my country. (3:03mins,Read Article)
Sam Eyre (4 days ago)
This video makes state-run benefits and work systems seem really terrible but uses no evidence to back its self up.
Sam Eyre (1 day ago)
Not if done properly.
Catobis (1 day ago)
Sam Eyre becua in the end it’s caused starvation and suffering
Bella Umbrellla (4 days ago)
That's what happens with despotic, psychopathic leaders at the helm...and we may be heading there ourselves at the rate we are going...😪
MisterZ3r0 (5 days ago)
They make fake US currency and Meth and export it around to world for Real hard currency.
Cuckmeister (5 days ago)
This is what happens when theres a giant trade blockade around a country. The west has basically starved them out and destroyed their economy untill they submit.
Jordan Zelch (8 hours ago)
Cuckmeister no it’s because of their totalitarian communist government and bad economic system
Not that Sur
C. Lincoln (6 days ago)
Annnnnd its over.
Alejandro Cabrera (6 days ago)
When Mexico goes communist, we will trade with north korea.
DAW PAWN SHOP (6 days ago)
D. MD (6 days ago)
So u said nothing - just repeat some old bullshit...
Anime Speed Drawing (6 days ago)
lmao at the typing sounds at the end, ya dun goofed
Marlon Delibasic (6 days ago)
CIA analyst thid they joob good and shutdown governments around the world!
Vittorio Lz (6 days ago)
i heard someone said that they printed the supernotes dollars, i mean..the machine was there. one of the last country in the world that don't have Rothschild bank..make 2+2.
Clay Gilliland (6 days ago)
The supernotes were produced by Iran after the Reagan Administration sold them the printing presses and plates in exchange for the hostages from the US Embassy.
James K (6 days ago)
Now trump give them a lot of US money to make a new nuclear program
Emanulito Royce (6 days ago)
James K .he can focus on Iran now, the american weapons industry wont be happy with this deal now no enemies=no business. Well Canada much loser than Iran ... that'll work...
Jasertio (6 days ago)
20 times as poor as south Koreans is a metric that does not make sense
Jasertio (3 days ago)
koala plays Roblox&Minecraft thanks, Kevin.
Jasertio South Koreans Are Not Poor Actually They Are One Of Many Few USA's Trading Allie
MV (6 days ago)
Kamal Lal (6 days ago)
Who care's.
net81j (7 days ago)
I would not be surprised if N. Koreans regime is involved in a lot of Bitcoin related foreign trades/activities.
Viviane B (7 days ago)
The people there are still living in horrible life conditions. There are videos of people who managed to record things and get out alive. All of this could change if they allow an open free market place.
Benjamin Burkhardt (7 days ago)
North Koreans have free healthcare, housing, transportation, and guaranteed employment... Western progressives, take note.
Lord Harambe (1 day ago)
Benjamin Burkhardt lol ignorant retard. Go back to your irrelevant and rotting third world country faggot
Catobis (1 day ago)
Yet they still starve
Werner Veenstra (2 days ago)
Benjamin Burkhardt healthcare is shit, not even treatment for stare. Housing is shit too. Everything there is terrible. Just because it’s free does not mean it is good.....
Benjamin Burkhardt (7 days ago)
They print paper... wait, that’s the USA.
Hugo Nongbri (4 days ago)
everybody prints paper...😂😂😅
Emanulito Royce (6 days ago)
Benjamin Burkhardt , wait you make the paper ediable.... .booommm! problem solved
Jason Balius (7 days ago)
true communism calls for the abolishment of currency
general kyle west (6 hours ago)
North korea isn't communist
Paradox xodarap (1 day ago)
@Jason Balius "fully automated" production of all goods is impossible because no one country has adequate access to every single resource it would need to do so. Which means they'd have to import raw materials. And in order to do that they'd need... *CASHMONEY DOLLA BILLZ*
Dan (2 days ago)
I strongly believe that there can be nothing that remains "pure" but healthy. There is no healthy absolute communism or capitalism countries. There is government provided welfare in capitalism countries and there is market in communism countries. These are hybrids in my sense, and in the end, they will lead to similar political systems with less differences than the 2 opposite systems in the beginning. Since I do programming, I'll also give another similar example. It's also the same with functional programing. Some people adore pure functional programming, but I think it won't be the future. The most successful programming languages always have hybrid features. Java for example succumbed to including functional lambdas as a feature, not the purist OOP language it aimed to become in the beginning. Haskell for example, included OOP features for GUI displaying and couldn't keep to its pure functional language.
simhopp (3 days ago)
https://www.youtube.com/watch?v=SMdk6n-PK3s North Korean woman claims she had to sell her house to pay for her son's medical care? how is that even possible in socialist paradise ?
Jason Balius (5 days ago)
The only way it would work is if the production of goods were nearly fully automated and there was near universal and democratic agreement to the system. We, in our current state, are just not mature enough for such a system.
world star (7 days ago)
of course the only thing that interests you about NK is money, shame on you
Ken Brownfield (7 days ago)
If I remember correctly, North Korea at one time counterfeited American money.
trycoldman23 (7 days ago)
No they make nukes
R3K3M (1 day ago)
nukes are a good thing they stop wars
ya boi carby (1 day ago)
"Can i get a kkwabaegi please thank you how much is that?" "12 nukes and 3 bombs, sir" **explosions** "thank you for coming to 7-11, sir"
slovene ball (2 days ago)
trycoldman23 Hey buddy
PhoeniiX R6 (2 days ago)
goose101 like wth
goose101 (2 days ago)
PhoeniiX R6 Same it's strange
OHM-968692 (7 days ago)
You should have also talked about the emerging black market in the country, where people illegally own private businesses but the government tolerates it.
Richard Selby (1 day ago)
OHM-968692 if the government tolerated it, isn’t it the grey market then?
xXxSkyViperxXx (7 days ago)
whats with the typing at the end
wabi sabi (7 days ago)
They make Super Bills. 😂
Emanulito Royce (6 days ago)
wabi sabi just add Zeros mate lol
flyinghigh2000 (7 days ago)
From Malaysia here....NK used to be here b4 the brother was killed 1. Coal mining in Sarawak 2.NK restaurant They bring workers from NK and i suspect their pay goes to the government. But since the brother is killed here they have since gone back home.
Emanulito Royce (7 days ago)
It is funny, that the video portrait being poor, against 2 asian women on a shopping spree. Do we want the N.Koreans be like mindless shopping Zombies like on black friday like in the US?
Dalmain J (2 days ago)
It's called progress...
MiguelPpM (3 days ago)
Emanulito Royce Yeah, that happens mostly on the US, the rest of us don’t care.
Carlos Javier Reyes (3 days ago)
Emanulito Royce qq
julie byrne (3 days ago)
they already are mindless!
Pencil Eraser (4 days ago)
Emanulito Royce That's the least of our problems unfortunately ^-^
S P (7 days ago)
Darknight Ofthesoul (7 days ago)
Black Cab Driver Defends Wearing Swastika Armband https://www.youtube.com/watch?v=zaY-apX-n8s&t=56s
yumkhaibam IK (7 days ago)
It all because of American dogs spreading tranny freedom around the world
jon hamm (7 days ago)
Yes, with xerox machines.
miao mei (8 days ago)
Angel Dela Cruz (3 days ago)
miao mei :3
Teitchie (8 days ago)
How can one be “20 times as poor as”? Sounds like you meant “20 times poorer”
PrincessAshley121 (11 hours ago)
Yea Poorer is what you call a comparative, and Poorest is what you call a superlative.
Deanandre (2 days ago)
Poorer is a word. It goes: Poor - Poorer - Poorest. If you were thinking more poor, this makes little sense. It would have to be more poorly, an adverb with completely different meaning. Also, 20 times as poor works too.
Triggered Feminist (2 days ago)
Poorer is not a word... Are you serious?
Tom Claringtom (8 days ago)
Daniel Shaikhali (8 days ago)
We can learn something from them I guess
INinja Panda (6 days ago)
Daniel Shaikhali 😂😂😂😂😂😂
Lxender (8 days ago)
Wtf, SK is wealthier than China?
Aaryan Shrestha (6 days ago)
Umer Zahid and I do hate communist china
Aaryan Shrestha (6 days ago)
Umer Zahid I am an indian and I won't hide it ....386 million indians are below poverty
jaco han (6 days ago)
Lxender per capita, South Koreans are richer than China and Russia.
Aaryan Shrestha (6 days ago)
Lxender yes it is
Mrdirtyuncle01 (8 days ago)
40 cent a day is dog shit. Atleast the government takes care of them. Much better than South Africa.
Saisravan Satturu (8 days ago)
Bush destroyed north korea economy Trump has made a deal
Atinder Gupta (8 days ago)
We need to get our central banking system up in there, and make them use our dollar as their reserve currency. This way we can just print more money whenever we want and dilute the usd market and cause inflation.
John McFags (1 day ago)
Bruh you know the average North Korean makes about 2 thousand dollar per year?
Lord Harambe (1 day ago)
feelsgoodman From what country are you anyway? Im guessing you’re from an irrelevant third world country who bashes the superior america to make yourself feel better. Remember you’re using an AMERICAN website, you’re gonna be isolated from the modern world without AMERICAN social media and technology. Jealous faggot
Lord Harambe (1 day ago)
feelsgoodman I’m guessing you’re a lonely fool who hates the US for some reason, you’re replies says it all and you can’t tell me otherwise. You’re unbelievably retarded and made yourself look stupid for the comments you’ve made. “US is losing to syria” is one prime example for your feeble and retarded mind. STOP acting like you know anything because you obviously don’t
War Dog (3 days ago)
Rothschild's family control the world's money supply with central banks and commercial banks.
feelsgoodman Buddy. No American actually cares about foreign politics. You guys choose the dollar, change it if you want.
Alpha 150 (8 days ago)
so the Korean war did not end in 1953 is depicted the graph at 0:05 in the factors of the release of your video the Korean war is currently still being fought though at a ceasefire. if Donald Trump's current talks with if Donald Trump's current talks with Kim are successful in ending the Korean War your graph should properly then read 1950 to 2018 as opposed to 1950 to 1953 but even still as of this videos release the Korean War currently only at a ceasefire
Fernando Salazar (8 days ago)
North Korea does not exist. Is a lie the Americans are using to manipulate the system, is fake, North Korea is a hoax that is in collaboration with South Korea, Korea North and South is one single country, one single Peninsula, and is rule by South Korea, Kim Joung or what ever his name is only a British actor who was hired by the United States government and in conspiracy by the FBI. The Americans are the real terrorists, they trying to manipulate other cells with their fakery while using fake media and movies, they are all actors and are repeating themselves intentionally as a form of conspiracy against man kind.
The United States does not exist. The american revolutionary war was a scam set up by the French to receive war funds from Spain to pay off it's debt from the french indian war. The current US President is a Indonesian actor and distraction from the colonial governors that sit behind the scenes. The entire US system is an experiment alongside all other governments in order to see which one works best.
it'sMe TheHerpes (3 days ago)
yes, you are right, atomic bombs are just a way of scaring people, and manipulate them. why do you think nuclear sites are secret ? they gather TNT there for a few months, then they explode it, and say "it was a nuclear test" Atomic bombs do not exist, they are not real. and rockets can't go beyond a certain altitude. they are using these deceptions to hide the fact that the earth is flat. they keep saying lies about space, when in fact, we never been to space. the EARTH IS FLAT !!!
Derpmaster21 (3 days ago)
Bruh he’s joking, and if by any small chance he isn’t, he should be euthanized
Fernando Salazar You Say What
Abrar .G (3 days ago)
The amount of people getting trolled 😂😂😂😂😂😂😂😂😂😂
Kevin Doyle (8 days ago)
At some point most Americans maybe literally dying to enter such countries and/or systems, but that's only a possibility or more less alternate reality at this point.
Live Free (8 days ago)
it wouldn't surprise me if they try to assasinate Kim Jong-eun while he's in Singapore. He's been a threat to the whole region, and he's been a traitor to his people
Creepy Toast (2 days ago)
Remember franz ferdinand?
Samtell (5 days ago)
Oh for fucks sake smh
白の丸 (6 days ago)
Then denuclearization would be pointless then...
Flacko (7 days ago)
this is the most retarded thing I've seen this week
Omar Farique (7 days ago)
Live Free I hope he don't get assinnated cause I live in Singapore. Him dying in this country means trouble for us
Cameron (8 days ago)
Very interesting video. It seems to me like the country would have been better off if they had Had currency and could buy food from other countries during the famine.
John McFags (1 day ago)
The problem isn’t that they had no currency it’s that they had no money. They have nothing of value to exchange for food.
Francisco Araneta (1 day ago)
they have currency, but no other country wants it, how could they buy food from other countries?
Dalmain J (2 days ago)
Cameron duh
Tecpaocelotl Castillo (7 days ago)
They had a partner, the Soviet union. Once it collapse, North Korea had a hard time adjusting.
David Kirkorov (7 days ago)
Well that's called international trade. And in order to import something they have to export as well to keep trade deficits low, but since NK isn't as competitive in the global economy, no exports can be made (yet).
David Yi (8 days ago)
why they should just combine with south korea to become one korea and they will beat Japan for the 3rd spot in the Global GDP in a few decades
偉大な敵 (1 day ago)
I don't even think many North Koreans would even want to join South Korea economics aside. The politics have become too distinct. This is kind of like Taiwan and China's split. In fact, I feel like the only reason outsiders are supporting reunification is because they know South Korea (allies) will end up dominating whereas Taiwan will fall. In fact, I doubt South Korea could efficiently bring north Korea out of poverty without harming it's own people to an extreme extent. It might just be better to eliminate the dictatorship and open up NK as an independent country.
Dalmain J (2 days ago)
Wait till NK fails then call the new country SNK (South and North Korea) 😂
David Yi (3 days ago)
simhopp Seoul is ranked as the world's "leading digital city" and a "tech capital of the world" --- Wikipedia
David Yi (3 days ago)
Simhopp haven't the koreans perfected--doing it better than anyone else in the world wifi and 5g and could u also explain how japan is so technologically advanced and other European nations
Solomon D (8 days ago)
Wtf I love North Korea now
Voltorb (6 days ago)
bulletfreak You are an idiot
Raynold Regan (6 days ago)
Ma Cas A white american defected there and his white kids are now generals in Norh Korea.
melqui rivera (7 days ago)
Solomon D you are an idiot move there then if you like it so much
David Millar (7 days ago)
Solomon D is a terrorist -true story
bulletfreak (7 days ago)
In theory the central distribution system is great and far superior to America's vertical "free" market economy. But when put into execution by an incompetent party it ultimately fails, on top of America's needless sanctions. You can't give a central authority, or an authority in general complete control over goods without having a bad time, this goes for America too, a handful of corporations and CEOs run everything in global conglomerate, and no I'm not talking about shit like the Illuminati, it's a verifiable fact a small number of people own most of the world's wealth. What really works is a non state planned, non "free" market planned distribution system of the sharing of goods, which is called mutual aid. Of course that requires the destruction of capitalism, something which both America and NK participate in, although in slightly different ways, America owning the world economy via powerful corporations, the government itself merely being a pawn subject to private control and interests. NK also doesn't go to war constantly like America in order to secure trade routes and resources for corporate interests like America, so you win some you lose some. Either way both countries are shit holes

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