Building socialism: N. Korea's construction boom and shaky private enterprise | NK News
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September 16, 2026Sep 16, 2026

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Building socialism: N. Korea’s construction boom and shaky private enterprise

Far from the propaganda set pieces of Pyongyang, a market for property investment is thriving

One of the most striking features of Kim Jong Un’s North Korea has been the recent construction boom.

For nearly three decades North Korean cities remained essentially unchanged, but between 2008 and 2010 work began again, and began to speed up after 2011 when the new leader came to power.

The visible results of this boom are the new residential districts in Pyongyang, including the much publicized Ryomyong Street.

For outside observers, true believers in the power of sanctions, it is often difficult to admit that the economic situation in North Korea is improving: the construction boom in Pyongyang, too large