Kim Jong Un Pushes for Industrial Development in North Korea

SEOUL (Reuters) – North Korean leader Kim Jong Un has called for increased development of industrial production outside of Pyongyang to bolster rural economies, according to state media KCNA on Saturday.

Goals for Modernization

Kim emphasized the need for the modernization of regional manufacturing facilities and enhancements in agriculture, urging the necessity to achieve measurable results annually, regardless of current conditions.

Recent Activities

Kim spoke at a ceremony for new production facilities in Songchon County, northeast of Pyongyang, where he participated in ribbon-cutting and toured various manufacturing rooms for products such as soy sauce and bean paste, as stated by KCNA.

Economic Context

Last year, North Korea’s nominal GDP was reported at 40.2 trillion won ($27.86 billion), which is only 1.7% of South Korea’s GDP of 2,401.2 trillion won, according to South Korea’s statistics agency. The North’s GDP had been on a decline for three consecutive years, starting in 2020, during the pandemic when borders were closed, but it rebounded last year.

($1 = 1,443.1400 won)