N. Korea launches $120 bln economic reconstruction program

[sepheronx]

North Korea has launched a $120 billion project to rebuild the economy, the top executive of a state-run investment group said on Saturday.
Pak Chol Su, chairman of the Korea Taepung International Investment Group, told Kyodo News the five-year project was aimed to rebuild infrastructure in eight cities as part of a 10-year plan to reconstruct the national economy.
There have been deepening concerns over the stability of the reclusive regime since reports of North Korean leader Kim Jong-Il's ailing health in 2008.
North Korea became an atomic power in 2006 after it conducted an underground nuclear weapons test. Subsequent economic UN sanctions led to severe food shortages in the country.
Pyongyang recently threatened to boost its nuclear capability in response to what it considered "continuing U.S. military threats and provocations," referring to joint annual exercises conducted by the U.S. and South Korean military near its borders.

SEOUL, April 17 (RIA Novosti)


RIAN (http://en.rian.ru/world/20100417/158630626.html)

I didn't know if I should have put this in the Off Topic and Humor section or not....

Anyway........

[Scriptable]

Where the **** will N. Korea get 120 billion dollars?

[sepheronx]

Where the **** will N. Korea get 120 billion dollars?

The printing presses?

[/sarcasm]

[ZeroZen]

The printing presses?

[/sarcasm]
True, they are the number one producer of fake dollars..

[Kilgor]

http://news.bbc.co.uk/2/hi/asia-pacific/4837484.stm

also heroin trafficking.

[Panchito12]

Where the **** will N. Korea get 120 billion dollars?

It's Zimbabwean dollars that NK is referring to, not US.

[Flamming_Python]

WTF!? 120 billion dollars? Gimme some of that **** u smokin' Kim Il

[retaxis]

well, they do have over a trillion dollars worth of ore which is yet to be excavated

[Ambassador]

They have no means of collecting them though.

And that $120bn project... they are probably referring to hundreds, if not thousands of years in the making. Make the project last 120 years and you only need to spend $1bn a year, but by that time...

[Hongjian]

Hmmm... looks like dear leader's visit to China beared its fruits already.

[Niall]

Well it can only be good for the population. Unless S.Koreans and Americans prefer North Koreans to starve.

[deathil93]

Their GDP is 40 billion, they'll get bankrupt if they actually execute their plan...

[Hyde]

Their GDP is 40 billion, they'll get bankrupt if they actually execute their plan...


"part of a 10-year plan to reconstruct the national economy."

They are already at the lowest of lows, it doesn't get any worse than that, they can't get more bankrupt than this.

[blackeagle238]

http://www.youtube.com/watch?v=kz5z5CY-fSk

Here's an ad for new apartments.. loosely related -_-

[deathil93]

"part of a 10-year plan to reconstruct the national economy."

They are already at the lowest of lows, it doesn't get any worse than that, they can't get more bankrupt than this.
Still, even 12 billion a year would get them bankrupt. They are now in a realy bad situation, but not bankrupt just yet, close, but not there yet.

[Victor1]

Where the **** will N. Korea get 120 billion dollars?

Through magic, they're gonna pull it out of Kim Jong Il's ass.