In a recent article about the two Koreas exchanging balloons carrying pamphlets (from the South) and garbage (from the North), the Wall Street Journal, talking about the two nations' economies, says the North was, "until the Seventies", more economically prosperous than the South. This really surprised me. I'm in my mid-70s, and I always remember the South being an economic powerhouse and the North being a basket case. Can anybody with more knowledge about these things explain the WSJ's economic comparison comment?
Question About The Koreas' Economies
- Thread starter erikpolcrack
- Start date
Register to hide this ad
I'm skeptical as well. I suspect that may have been based on unverified self-reporting by North Korea's propaganda machine. I mean, look at the imaginary crop reports the Soviet Union published when people were standing in bread lines in Moscow.
This. Things were always "better" in the Workers' Paradise-just ask Glorious Leader.
- Joined
- Apr 4, 2006
- Messages
- 19,790
- Reaction score
- 31,613
The South Korean's are now a MAJOR player in the automotive industry with Kia, Hyundai & Genesis. Exactly what portion of their economy that makes up I don't know but they are also starting to manufacture other items for export as well. I'm sure there are probably very few if any members here that have been to North Korea as of late and so I believe we have to decide how they are doing based on the news and tv specials we all have seen. My take is that N. Korea is NOT doing well at all and many are starving. In contrast, S. Korea seems to have flourished over the past decade. That is my take.
To that we can add electronics. It would be interesting to know what percentage of the U.S. population owns at least one Samsung product. Then there is shipbuilding. How many supertankers and container ships has North Korea produced?
- Joined
- Apr 4, 2006
- Messages
- 19,790
- Reaction score
- 31,613
Yes - I forgot to mention appliances and electronics - another HUGE industry the SK's are in big time now. They are however having big QC issues with refrigerators right now and there are some class action suits against Samsung.
OP
The only thing I've been able to remember as positive about North Korea's economy was their coal, iron ore, and, I think, rare earth minerals. Maybe they sold enough of that stuff to their big socialist neighbors to the north when China and Russia were heavily rebuilding in the decades after the Second World War. I know South Korea did take a while to rebuild itself after the Korean War, so I'm sure they were still building up in the 70s.
- Joined
- Mar 12, 2013
- Messages
- 5,152
- Reaction score
- 12,863
North Korea is a major world producer of poverty and hunger.
I remember an older satellite photo was taken of both Koreas at night...South Korea was lit up all over the country like a Macy's Day parade...North Korea was dark all the way from the DMZ north.
DWalt
Member
Doesn't Kim Jung Il feed his enemies to hungry dogs?
The simple answer to this, is N.Korea has zero Economies, and the south Koreans are banking $$ daily.
From what a friend that had served in Korea said about the only places in NK that have some power at night are military bases!
And counterfeit U.S. currency .
My Kenmore appliances are made in South Korea.
NK has achieved "cover superiority".
NK has achieved "cover superiority".
Looks like the props department from The Nutcracker is missing some hats.
Sistema1927
US Veteran
I was stationed in the Republic of Korea (ROK, South Korea), for 14 months, 1983-84. It was a robust and booming economy. The masses north of the 38th parallel in the People's Republic of Korea (PRK, North Korea) were starving and eating grass. The PRK troops facing off against us were malnourished midgets in comparison to the ROK troops standing alongside us.
I don't think anything has changed much in the past 40 years.
I don't think anything has changed much in the past 40 years.
South Korea's Cort and Samick are two of the world's largest musical instrument manufacturers. They also make instruments for a lot of big brand-name companies.
Also, look up "Hyundai Heavy Industries".
Also, look up "Hyundai Heavy Industries".
Similar threads
- Locked
