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Jim Rogers, legendary investor and chairman of Rogers Holdings, told FOX Business that North Korea is ripe for investment following President Trump’s historic summit with North Korean leader Kim Jong Un.
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“As soon as it’s legal,” he told Stuart Varney on “Varney & Co.” “I’m going to start making progress.”
Even though North Korea is not yet open for business to U.S. investors, Rogers said he’s betting on South Korean stocks, for now, to rake in profits.
“I own Korean Air Lines for this, for instance,” he said. “Because there will be a lot more travel when this becomes legal and open and I’m looking for other things.”
At the moment, he said, North Korea is working to create a stock market and added that the country lacks everything, including basic necessities.
“They need everything … electricity … soap … tablecloths,” he said. “If you’ve got any kind of expertise you’re going to make a fortune.”
Rogers is betting on the prospect of a speedy entrance into the country because other countries are already rushing in.
“The Chinese are pouring in, the Russians are pouring in – there are a lot of people pouring in while us citizens of the land of the free are sitting here looking out the window,” he said.