A possible war on Korean peninsula could cost world $4 trillion

A war between North and South Korea would cost the world economy $4 trillion, which is estimated at 3.9 percent of global gross domestic producta, ccording to Bloomberg.

The author reminded that 26 million people live in the mentioned agglomeration. The article noted that a possible military confrontation would be the largest-scale war in terms of the number of casualties.

According to the article, during a military conflict, large industrial corporations such as "Samsung Electronics" may suffer serious damage. According to the author's claim, such companies, which produce 41 percent of the "DRAM" chips and 33 percent of the "NAND" microcircuits required for the South Korean army, will become the target of North Korea's ballistic missiles.

Among the biggest buyers of "Samsung Electronics" are China and the USA.

Bloomberg analysts also report that in the first 365 days of the war, GDP production in South Korea may decrease by 37.5 percent, and in the United States by 2.3 percent.

So, A full-fledged war on the Korean Peninsula could kill millions of people and cost the global economy $4 trillion in the first year, according to a Bloomberg Economics study. This is more than double the damage caused by Russia's invasion of Ukraine. Wi Sung-rak, a former head of the Korean Peninsula Peace Negotiation Headquarters, said, "There is a 30% chance of a small-scale close race on the Korean Peninsula within a few years," adding, "It is the most serious situation since the collapse of the Soviet Union." Bloomberg Economics pointed out that in addition to the war, the collapse of the Kim Jong-un regime is one of the scenarios leading to a crisis on the Korean Peninsula. If the Kim Jong-un regime collapses, the most urgent issue for the U.S., South Korea and China is to secure North Korea's nuclear weapons, he said. North Korea may also be emboldened to try a nuclear test due to cooperation with Russia that the US and South Korea said includes arms transfers to help President Vladimir Putin in his assault on Ukraine. Kim pledged to provide unconditional support to Putin for his military efforts in Ukraine when the Russian president last month made his first visit to North Korea in 24 years.