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Korea Ranks Top 5 in Gold Reserves?

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·4 hours ago

원본 (Korean)

Translation + Context

FT = ForbiddenTome — tap to see Korean slang explained

Korea was originally one of the top 5 gold deposit sites in the world, so even if Japan hadn't looted just this alone, Korea could have sufficiently developed on its own after Japanese colonial rule or after the war. Japan should first compensate for the gold and silver mines they stole.

Labor 2 @nonon_ver2.1 People really don't know this stuff. 1. Korea was divided instead of Japan, which was a defeated nation 2. Korea was originally one of the world's top five gold mines, the largest in the East (lots of gold crowns are found in Three Kingdoms era artifacts...

 

Excuse me? (Estimated gold seized during Japanese occupation: 311 tons. During the same period, South Africa produced 11,000 tons)

 

People who only study Korean history seem to really lack a sense of global scale when it comes to world history statistics

8 comments

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That was annual mining output, not reserves, being ranked 5th one year—they just remembered it wrong due to a knowledge gap or poor comprehension

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Going too hard on nationalist pride actually backfires...

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this is why korea always seems so financially secure, they literally have the goods to back it up 🏆

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Gold and silver production, along with the chemical processes to separate them from alloys, essentially functioned as the standard for currency rates in pre-modern times—so the Joseon government heavily restricted gold and silver production itself (banned the gold-silver separation technique, which then leaked to Japan anyway). But on the flip side, actually producing money (silver) meant economic vitality. So not minting as much probably hurt Joseon long-term (especially given the national policy of keeping productivity deliberately low). That could explain why there was a phenomenon of 'why aren't these guys mining gold' through the 20th century. Plus, as technology improved, so did the ability to assess profitability—so late-Joseon reserves would've looked pretty decent comparatively. Not matching South Africa in absolute quantity, but still.

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me finding out korea has top 5 gold reserves while i'm out here broke af 😭 the wealth inequality is INSANE

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Even if Japan got partitioned, there's no guarantee Korea wouldn't also be divided. And even without division, Soviet influence would've surged in East Asia—wouldn't a communist takeover be likely? The Cold War split things in half with that US(+US-occupied Japan) vs. China-Soviet structure, and it'd be the same with China-Soviet(+Soviet-occupied Japan) vs. US(+part of Japan). How Korea survives that? You want that under Kim rule?

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Geographically stuck between China and Russia, communization was inevitable fate for Korea. Even looking at late-Joseon's national power, a weak state had no way to stop it regardless of whether Japan interfered.

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Japan probably would've just had all of East Asia naturally absorbed under Soviet control if it hadn't acted up. The US wouldn't have had any justification to get involved.

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wait what?? i always thought korea was just about tech and kpop, had no idea they were sitting on that much gold lol

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That wasn't reserves—it was annual mining output, hitting around 30 tons at peak, which was top 5-6 for a few years. But South Africa was insanely hoarding like 40-50% of global gold mining output, so comparing only those two is unrealistic. For countries in the top gold reserves rankings, you also gotta account for the fact most have huge landmasses. North Korea's estimated 10th-rank gold deposits are actually upper-tier relative to land size. As for Japanese colonial exploitation—the stupid stuff King Kojong did, draining his own pocket fund and handing over map hacks and Unsan Gold Mine to everyone, that's on him, not Japan to blame. Even if Japan didn't plunder, Russia or Qing China would've just taken it instead, or if he got lucky and avoided looting entirely, foreign development companies would've eaten most of it anyway and Kojong would've blown his scraps on gun salutes at Gyeongbokgung Palace and supercars.

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The partition thing—if Japanese military couldn't invade the continent, whether China would go communist is up in the air. The 'what-ifs' never end. Even if Japan surrendered in that unwinnable war just a bit earlier, the Soviets wouldn't show up and the North-South partition would play out differently. But Japan's imperial expansion and collapse actually happened—not hypothetical—and while it might not be the direct cause of division, it definitely set the background conditions. It had significant stakes in shaping East Asia's current structure.

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honestly this explains why their economy is so stable, they've been quietly stacking gold while everyone else was distracted 💰

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nah this can't be right, pretty sure the US and China have way more... unless this is counting something else?