Jim Rogers, legendary investor and chairman of Rogers Holdings, told FOX Business that the prospect of peace between the U.S. and North Korea may bring an economic surge to the Korean Peninsula.
“Korea is now going to be the most exciting country in the world,” he said during an interview on “Making Money” Tuesday.
President Donald Trump and North Korean leader Kim Jong Un concluded their historic summit on Tuesday by signing an agreement that reportedly includes a commitment to a “complete denuclearization” of the Korean Peninsula.
“The kid does not want war. The kid is not North Korean. He was educated in Switzerland. He knows there’s a different world out there,” Rogers said.
The Hermit Kingdom’s disciplined labor and natural resources combined with South Korea’s immense capital along the Chinese border will propel both countries toward economic prosperity, according to the investor.
“[North] Korea got rich neighbors,” he said. “South Korea, China, Russia, people who got plenty of money to pour in there.”
The Bank of Korea estimates that North Korea’s economy grew by 3.9% in 2016.
Rogers said South Korean companies like automaker Hyundai and the tech giant Samsung will consider investing in North Korea.
“The potential is there. [North Korea] used to be extremely successful. It’s coming back,” he said.