N.Korea Sells Off Resources to Pay for Celebrations

      April 02, 2012 09:53

      North Korea earned at least US$1.8 billion from exports of underground resources last year, Radio Free Asia reported last Friday.

      The figure is double the rough amount of $900 million it earned from resource exports the previous year and equivalent to the amount the regime is reportedly spending on the centenary of nation founder Kim Il-sung on April 15.

      The regime is expected to spend at least $2 billion for the festivities, which among other things require large handouts to the population to give an illusion of prosperity.

      South Korean authorities speculate that the regime spent another $850 million building a long-range missile to be launched around the time of the centenary and a missile launch pad in Tongchang-ri, North Pyongan Province.

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