http://ift.tt/hZ0OVi
South Korea plans to raise US$500 billion largely from the public sector, without raising taxes, to help North Korea prepare for a future reunification, the top financial regulator said Tuesday.
In a financial blueprint for a future North-South unification, the Financial Services Commission (FSC) said an estimated $500 billion is needed to raise North Korea's gross domestic product (GDP) per capita from $1,251 in 2013 to $10,000 within 20 years after a possible unification.
It will also spend an additional $175 billion on infrastructure and industrial development, it added.
North Korea's GDP totaled 34 trillion won ($31 billion) as of end-2013, a level equivalent to that of South Korea in 1971 and a mere 2 percent of the South's GDP in 2013.
Read more »
Reposted via Next Big Future
South Korea plans to raise US$500 billion largely from the public sector, without raising taxes, to help North Korea prepare for a future reunification, the top financial regulator said Tuesday.
In a financial blueprint for a future North-South unification, the Financial Services Commission (FSC) said an estimated $500 billion is needed to raise North Korea's gross domestic product (GDP) per capita from $1,251 in 2013 to $10,000 within 20 years after a possible unification.
It will also spend an additional $175 billion on infrastructure and industrial development, it added.
North Korea's GDP totaled 34 trillion won ($31 billion) as of end-2013, a level equivalent to that of South Korea in 1971 and a mere 2 percent of the South's GDP in 2013.
Read more »
Reposted via Next Big Future
No comments:
Post a Comment