Kim Jong Un Urges Development of Industrial Areas Outside the Capital

North Korean leader Kim Jong Un called to step up development of the country's industrial production in regions outside Pyongyang to strengthen rural economies, state media KCNA said on Saturday. He called for the modernisation of regional manufacturing facilities, improvements in agriculture, and "to come up with clear results every year, regardless of conditions".

Kim was speaking on Friday at a ceremony for new production facilities in Songchon County, northeast of Pyongyang, in which he participated in ribbon-cutting and toured manufacturing rooms for products such as soy sauce and bean paste, KCNA said.

Last year, North Korea's nominal GDP stood at 40.2 trillion won ($27.86 billion), or just 1.7 per cent that of South Korea's 2,401.2 trillion won, South Korea's statistics agency said on Friday. It's GDP had shrunk for three straight years since 2020 during the pandemic when the country shut its borders, and only rebounded last year, the agency said.

North Korea's economy is centrally planned and adheres to Juche, with market allocation schemes playing a limited, yet somewhat increased, role. As of 2024, North Korea still primarily follows a centrally planned economic model. As of 2016, the total gross domestic product reached $28.500 billion, and there has been certain economic liberalization, especially after Kim Jong Un took over leadership in 2012; however, reports vary regarding specific laws and their implementation.