Here’s How North Korea Earns Income
- KRT via AP
VIVA – North Korea is a country in East Asia, this country covers the northern part of the Korean Peninsula. Its capital and largest city is Pyongyang. North Korea’s trade with foreign territories has officially been severed as a result of global sanctions against the nation. But this country still manages to enjoy lives full of luxuries, many of them originating from abroad.
So, where is all the money coming from? How does North Korea earns their state income? Here are the answers:
As known, Korea makes money through cyber activities. According to a Reuters report, North Korea is estimated to have earned $2 billion in attempts to carry out cyberattacks, for example by stealing money from banks or cryptocurrencies or institutions or companies, from 17 countries around the world.
One of the funds that was successfully collected was used to finance the manufacture of nuclear or ICBM aka Intercontinental Ballistic Missile.
This group of hackers is not just anything we can underestimate. According to McAfee's official website, this group is believed to be behind various bank thefts, such as stealing $12 million from Banco del Austro Ecuador, $1 million from Vietnam's Tien Phong Bank, $81 million from Bangladesh Bank, and $60 from Far Eastern International Bank.
All of the hacks used identical malware, sourced from a malware called Bankshot. To obscure the action, the North Korean hackers did not use their native language, but instead used English. Referring to the McAfee report, the hack was carried out by diverting servers to many countries, especially Thailand.
According to a CIA report, North Korea earns income from the military, machinery, electricity, chemical, mining, metallurgy, textile, food and tourism industries.
However, North Korea's main export commodities are mining, manufacturing, textiles, agriculture and fisheries. Meanwhile, the main import commodities of the country headed by Kim Jong-un are oil, coal, machinery and textiles.
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