North Korea Sells Gold to China

Kim Jong Un

(Yonhap) – Against traditions, North Korea sells some of its gold reserve to China in a bid to overcome its economic difficulties.

Founding leader Kim Il-sung’s instructions were clear; nerver to sell the country’s gold. Apparently, there is an economic crisis and change in North Korean policies.

The selling of North Korean gold reserve has been underway for several months. Overseas sales of gold are a gauge of strength North Korean economy, a source asked to stay anonymous said to Yonhap.

The first time North Korea sold gold was in late 2011, under the reign of Kim Jong-Un after the death of Kim Jong-Il, the previous leader and father of the current leader. Founder leader Kim Il-sung is Kim Jong-Un’s grandfather.

North Korea holds around 2,000 tonnes of gold as reserve, according to sources in South Korea. An economic collapse in North Korea might increase the risk of military provocations between the two nations.