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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 (371)
An Anna (1 month ago)
I live in the United States, I'm 50, and I have never, ever had a job. Not since I left high school... it's a connundrum... you couldn't get a job without experience, and you couldn't get experience without a job. I've lived off credit cards and food stamps for 30 years... ran up my credit card debt to $120,000 living as frugally as possible, declared bankrupcy, started all over again. Currently I'm at about -$7500 on 0% interest rate cards. Basically all the wealth I have is stuff I've recycled from other people's lives imploding or households going belly up.... I clean it up, fix it, make it my own. Now there are no jobs in the United States. They mostly fled to China 30 years ago before I even graduated. It's a hard life, and nobody will admit it... but most people in my neighborhood are way worse off than me. They have no jobs, or a very crappy retail job... no credit cards, and can't fix anything. You can go on sites like Monster or Indeed or SimplyHired and see thousands of jobs listed, but none of them are real... they are all fake. I feel bad for kids graduating today, or still believing the lie... go to college, graduate, get a job... there are no jobs, it was all a charade. I survived only by being insanely frugal, being very practical, seeing everything as a raw material or resource, recycling everything, repurposing everything, and basically getting while the getting was good... you may not need it now, but you will later.
Pepe (1 month ago)
Socialist shithole.
Дядя Федя (1 month ago)
Everyone worked for the State and everyone was provided by the State. Democrats wet dream
ZergforLoser (1 month ago)
Of course, they have the capacity to make money. It's a nation that could "self-sustain" for more than five decades. However, they are only doing so through the ways that are no better than terrorists and drug gangs. This is the reason why I consistently telling people that North Korea is not a nation. Having it as a UN member is a shame.
marcortex (1 month ago)
O comunismo merda da Coréia do Norte é melhor que o da Brasil-bosta.
YipuTheDerp (1 month ago)
0:06 *wheeeeeeeeeeeeeeeeeeeeeze 'pRovIdeD bY tHe stAtE'*
Anthony Kernich (1 month ago)
worker 1 is just like a dole bludger in Britain
Viktor Vasilik (1 month ago)
riiiiiggghhhttttttt... because you should believe anything coming from Bloomberg when is comes to money lol. lying scums
AWSOMUS LATEST (1 month ago)
How they had famine...? They have a ocean with fish
ShaoChen Shi (1 month ago)
So as you see, communism doesn’t kill these people, famine do.
ShaoChen Shi (1 month ago)
Flood, typhoons, drought. Man couldn’t take fish as staple food for 10 years.
Apricot Theory (1 month ago)
Socialism is just like Islam = Their "true version" apparently has never been tried AND whenever a "False version" is tried, it leads to genocide and famine. Seriously, FUCK ISLAM, and FUCK LEFTIST ideology.
T Nelson (1 month ago)
Equality isnt equality of outcome
Jeff Cockmann (1 month ago)
the offices that get money for the NK government, they are into all kind of dirt, the are like a little gang in Macau
niel546 (1 month ago)
Korean war didn't end
Taco Stacks (1 month ago)
Why am I here?
why are we still here? just to suffer?
Carter is best (1 month ago)
African Pharaoh lol
African Pharaoh (1 month ago)
Taco Stacks cause you work for Kim
David Mehnert (1 month ago)
Why did Trump go to Singapore for a photo op? Because he believes in slave workers, starvation plans, and beachfront development deals? Because he certainly didn’t secure a nuclear deal. In fact, he gave Kim the legitimacy and protection on the world stage (certainly for the duration of the Trump Presidency) that meant he could keep his nukes—even market them to Kim- and Trump-allied dictatorships around the world—without worry of reprisal.
Conservative (1 month ago)
Most North Koreans are Koreans
Strafe (1 month ago)
I hate how western media thinks North Koreans are fucking aliens.
Rathod Sanjay Singh (1 month ago)
Stalin and Mao😂
Plasmoxy (1 month ago)
lMao 😂😂😂
LeeLicious (1 month ago)
2:50 That's viagra My friend who's a tour guide in Korea gave it to me as a souvenir
Greg Memelad (1 month ago)
so now i understand how that english youtuber found some marijuana plants near a beach in his north korea vlog
karl marx (1 month ago)
Fucking American propaganda
albert fish (1 month ago)
I thought Kim Jong un used his pubic hairs as currency
. (1 month ago)
hasheesh
KAR RAH (1 month ago)
Lol They are poor not Cuz of their salery but rather all the sanctions cuz they don’t have Jewish banks.. yet
TheSovietComrade (1 month ago)
North Korea we're more wealthier than China in 1989? Aren't China we're wealthier than North Korea?
Marius Fleury (1 month ago)
specialist youth base male this pleasure rely remind peer
Nu Duo (1 month ago)
(((Communism))) is very destructive and toxic to the Goyim.
ExposedCorn (1 month ago)
You know your country is The most isolated country in the world when other people ask if the people in your country make money
Ytho Plz stop (1 month ago)
What if North Korea finds some expensive mineral and gets the second largest GDP and becomes allies with the USA
Kim Jong-il (1 month ago)
American Idiots
FoodforThought (1 month ago)
This question is so obnoxious, it's like asking "Do English people wear top hats all the time?"
Justin Watson (1 month ago)
the typing sound at the end really freaked me out
Nilguiri (1 month ago)
Where is "Pyongyong"?
Bezz80 (1 month ago)
The real question is, "Do Americans make money?" in the slave system. You people...fraudsters should be hung.
Guyana South America (1 month ago)
do the white man actually make money and buy everything he wan't.
awesomehead bros (1 month ago)
If they want money make drugs
kim jong un (1 month ago)
Yes lots of it
cameron burke (1 month 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 month ago)
Korean War didn’t end in the time frame you posted. It was an armistice.
EGEY SH*G (1 month ago)
Why does North Korea make money there people just eat dirt.
achancery10 (2 months 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 (2 months ago)
how is 3,000 won equate to a street value of .40?
Matthew Creary (2 months ago)
All governments are inherently the same...POWER HUNGRY BUSINESSES.
Davis Wetter (2 months ago)
The Korean War didn’t end until 2018
Regimeshifts (2 months ago)
So you pose the question, and you dont answer it. Great/
Baxter Ross (2 months ago)
Is this communist propaganda?
General Kyle west (1 month ago)
Baxter Ross are you stupid? North korea isn't communist
Casper G (2 months ago)
ye but realisticly what can they even do if they simply dont have the resources ??????????
Ras Putin (2 months ago)
#1 in arms seller in black market. #1 in producing counterfeit us currency. No wonder us is mad, hates competition!
D 1 (2 months ago)
Office 39!! That's a cool name
FurkanSE (2 months ago)
Vox
DrAluful (2 months ago)
fuck usa, the only real terrorists on this planet. america first MY ANUS!
yummy
Augustuvi Primce dea.V. (2 months ago)
and they make fake US dollars, counterfeit bill industry is booming
H Eck (2 months ago)
Trump gonna win 2020
Dino Kross (2 months ago)
(((Communism))) is toxic to the Goyim.
sourab saklecha (2 months ago)
"After the end of the Korean war..." ???? The Korean war never ended Bloomberg! It's still on...get your facts right.
Conductor 101 (1 month ago)
sourab saklecha they when they just stopped fighting
Dalmain J (2 months ago)
Kim 2021! That's when he gon bomb us 😂
koo jaba (2 months 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.
Hoo- Rei (2 months ago)
NK will go with China to help the food situation. China is turning deserts in Mongolia into fertile soil & growing food there.
zoyzoycornface (2 months ago)
they were quiet wealthy before the fall of the soviet union
Catobis (2 months ago)
zoyzoycornface Because Russians gave them money and help
jose chavez (2 months ago)
Why y'all trying be like Vox?
Kevin Yu (2 months ago)
by the math, chinese are almost 3 times poorer than north koreans, this makes 0 sense to me
SMGJohn (2 months 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 (2 months ago)
North Korean men don't work?
Its Rin (2 months ago)
'switching to a more china-like system' whats the difference?
Mozart (1 month ago)
It's abandoning communism without admitting it has failed miserably. Typical communist story.
MiguelPpM (2 months ago)
Its Rin China is adopting capitalist principles although the communist party stays in power.
Anonymous Anonymous (2 months ago)
it's not true that 3k won is 40 cents. 3k won is actually around $3.50. Get it right Bloomberg.
Ikreisrond (2 months 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 (1 month ago)
Ikreisrond capitalism is less than 300 years old
DrWack0 (1 month ago)
a famine didn't just happen because of natural occurrences.. otherwise, the south would have starved too or at least had shortages. Famines are a result of a failed system. Communism always causes starvation, even if it takes a few years...
DrWack0 (2 months ago)
You may be unaware of the extent of the repression and horrors caused by central planning and totalitarian governments.
ndrthrdr1 (2 months ago)
You may be unaware of the extent of the sanctions.
DrWack0 (2 months 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 months ago)
U.S. sanctions have produced poverty there.
John Carter (2 months ago)
They use monopoly money, a game is N-Korea, with only losers
Mullah Omar (2 months ago)
So basically those kim yum yum bills aren't worth the paper there printed on.. Yep sounds about dictatorish to me...
ِ ِ (2 months ago)
Lol Haven't they faked dollars like in a massive scale?
Michal Rajda (2 months ago)
Does* u idiot
Zalden N (2 months ago)
they're getting papperr, LOOOK 'em now OHHH
MrBoliao98 (2 months ago)
Cmon, North Korea practically use the RMB
AN LY (2 months ago)
This is why Trump calls Bloomberg are fake news LOL
NOBEL DJ (2 months ago)
socialism works? nope
ndrthrdr1 (2 months ago)
Yes, Denmark is socialist. That's why their taxes are high. They get free health care, though.
NOBEL DJ (2 months 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 months ago)
Look at Denmark. Yes, socialism works -- unless USA is imposing crippling sanctions.
Mr. Bangladesh (2 months ago)
Sad, North Korea stole $81 Million from my country. (3:03mins,Read Article)
Stephen Eyre (2 months ago)
This video makes state-run benefits and work systems seem really terrible but uses no evidence to back its self up.
Stephen Eyre (2 months ago)
Not if done properly.
Catobis (2 months ago)
Sam Eyre becua in the end it’s caused starvation and suffering
Bella Umbrellla (2 months 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 (2 months ago)
They make fake US currency and Meth and export it around to world for Real hard currency.
Cuckmeister (2 months 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 (1 month ago)
Cuckmeister no it’s because of their totalitarian communist government and bad economic system
Your Name (2 months ago)
Not that Sur
C. Lincoln (2 months ago)
Annnnnd its over.
Alejandro Cabrera (2 months ago)
When Mexico goes communist, we will trade with north korea.
DAW PAWN SHOP (2 months ago)
I WOULD SAY,,, PRETTY INTERESTING.
D. MD (2 months ago)
So u said nothing - just repeat some old bullshit...
Anime Speed Drawing (2 months ago)
lmao at the typing sounds at the end, ya dun goofed
Marlon Delibasic (2 months ago)
CIA analyst thid they joob good and shutdown governments around the world!
Vittorio Lz (2 months 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 (2 months 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 (2 months ago)
Now trump give them a lot of US money to make a new nuclear program
Emanulito Royce (2 months 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 ✅ (2 months ago)
20 times as poor as south Koreans is a metric that does not make sense
Bhanji Junior (1 month ago)
Maybe in reference to GDP and other numeric economic indicators
Jasertio ✅ (2 months ago)
koala plays Roblox&Minecraft thanks, Kevin.
Koala Plays (2 months ago)
Jasertio South Koreans Are Not Poor Actually They Are One Of Many Few USA's Trading Allie
MV (2 months ago)
"hasheesh"
Kamal Lal (2 months ago)
Who care's.
Umer Zahid (2 months ago)
*North Korea is far better than Pakistan . I live in Pakistan .People here rape teenage boys called "Bachcha Baazzi". People even travel outside to rape women. In London there are grooming gangs formed out of immigrant Pakistanis whose main purpose of life is rape of white Christian Londoners . Of course there is one thing common in North Korea and Pakistan.Both export terrorism to neighbouring countries.*
net81j (2 months ago)
I would not be surprised if N. Koreans regime is involved in a lot of Bitcoin related foreign trades/activities.
Viviane B (2 months 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 (2 months ago)
North Koreans have free healthcare, housing, transportation, and guaranteed employment... Western progressives, take note.
Catobis (2 months ago)
Yet they still starve
Werner Veenstra (2 months 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 (2 months ago)
They print paper... wait, that’s the USA.
Hi have a nice day (1 month ago)
Benjamin Burkhardt You really are ignorante are you
Hugo Nongbri (2 months ago)
everybody prints paper...😂😂😅
Emanulito Royce (2 months ago)
Benjamin Burkhardt , wait you make the paper ediable.... .booommm! problem solved
Jason Balius (2 months ago)
true communism calls for the abolishment of currency
Sarah Morrigan (1 month ago)
Pol Pot tried that... and failed miserably.
ARVIN (1 month ago)
true communism also calls for a stateless society (complete opposite of NK and China).
General Kyle west (1 month ago)
North korea isn't communist
Paradox xodarap (1 month 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 months 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.
Ken Brownfield (2 months ago)
If I remember correctly, North Korea at one time counterfeited American money.
trycoldman23 (2 months ago)
No they make nukes
SheepBlippy (13 days ago)
JirkashunterCzech North Korea is bassicaly a satellite state that China is using as a buffer as they don't want South Korea and the US right next to them.
Thomas McNab (1 month ago)
trycoldman23 I SEE YOU EVERYWHERE!!
Tow Wong (1 month ago)
So the North Koreans drink Nuka Cola? Ofcourse they do!
R3AP3R (1 month ago)
Steve Alone wtf r u doing?
R3AP3R (1 month ago)
Ur becoming Justin Y.
OHM-968692 (2 months 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.
Samuel Rs (1 month ago)
Private businesses such as? I've never heard of anything beyond farmers markets
Richard Selby (1 month ago)
OHM-968692 if the government tolerated it, isn’t it the grey market then?

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