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Jim Rogers still expects bonanza from N. Korea

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(Globalpost/GlobalPost)

WASHINGTON, Jan. 17 (Yonhap) -- Jim Rogers, a high-profile American investor, still believes North Korea is one of the most promising investment spots in the world.

Speaking at road shows in Europe this month, he said he is willing to bet all of his money on the communist nation, according to the Voice of America.

"Another country in Asia that I'm extremely optimistic about, I'll put all of my money there if I could, is North Korea," Rogers said in Britain Tuesday.

He is apparently not optimistic of the North Korean economy itself; North Korea is under strong U.N. sanctions.

But he expects the sharp appreciation of North Korea's assets in the event of reunification with South Korea.

Rogers claimed there are some positive indications from the North under the leadership of Kim Jong-un, 31, who was educated in Switzerland.

"I'm extremely excited and optimistic about what's happening in North Korea. There's virtually no way for me as an American, especially, to invest there, but if I could I'll put all of my money there," he said at an event in Norway on Jan. 8.

He characterized a visit by several former NBA players to Pyongyang as a "symptom of the changes that can never have happened" under former North Korean leader Kim Jong-il.

Last year, Rogers openly said North Korea, along with Myanmar, should be attractive to global investors.

Critics question the seriousness of his public comments, however.

He has reportedly bought lots of commemorative gold coins from North Korea in an apparent bet the impoverished nation will collapse not in the distant future and the value of the coins will soar.

Rogers is the co-founder of the Quantum Fund with George Soros.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140117/jim-rogers-still-expects-bonanza-n-korea