‘Medieval’ Economy Is Kim Jong Il’s Legacy as Minerals Untapped

Kim Jong Un, North Korea’s anointed leader, inherits an economy that was outstripped by South Korea in the 1970s, shrank after the collapse of communism in Europe and now struggles under its stated policy of self-reliance.

Gross domestic product of 30 trillion won ($26.5 billion) in 2010 was one-fortieth of the size of South Korea’s, according to estimates by the South’s central bank. The North’s economy probably shrank in four of the past five years, the Bank of Korea says. North Korea doesn’t release GDP data.