Kim Jong-un will save North Korea's devastated economy with big plans

Kim Jong-un will save North Korea’s devastated economy with big plans

According to the official North Korean News Agency, the current talks will be discussed at the party’s Central Committee meeting scheduled for early June. Kim’s plans are not described in detail but reports say the goal is to make clear changes to boost economic stability and improve people’s quality of life.

The North Korean economy has been going through a serious crisis for decades, in which poor management, sanctions imposed by Western countries and the coronavirus epidemic have played a role at the same time. However, South Korean sources say there is no indication that North Korea is easing strict border restrictions imposed by the pandemic.

Because of the difficulties, Kim also indicated at the Central Committee meeting earlier this year that she was asking people to persevere, and announced that they would exercise more state control in areas such as agriculture and focus heavily on the chemical and mineral industries. The last two sectors have been severely affected by the sanctions and the pandemic.

In foreign policy, the situation is also not better, US sanctions have not been lifted, and the North Korean leadership has refrained from negotiating with the United States led by Joe Biden.

Cover photo: Korea Summit Press Pool / Getty Images

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