In a press conference following his summit with North Korean leader Kim Jong Un in Singapore, President Donald Trump has praised North Korea's "great beaches" and said they would be a great location for hotels.

According to the US President, the North Korean economy would benefit greatly from ocean-side beaches. "As an example, they have great beaches," Trump said to reporters. "You see that whenever they're exploding their cannons into the ocean. I said, 'Boy, look at that view. Wouldn't that make a great condo?"

"You could have the best hotels in the world right there," Trump said. "Think of it from a real estate perspective. You have South Korea, you have China, and they own the land in the middle. How bad is that, right? It's great."

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North Korea's Pyongyang unveiled renovations to the city's futuristic, pyramid-shaped 105-story Ryugyong hotel last year.