What North Korea’s abruptly announced five-year plan means for the economy



Analysis What North Korea’s abruptly announced five-year plan means for the economy The last five-year economic plan was suddenly abandoned in 2020, but the DPRK now pledges to draw up a new one Peter Ward August 21, 2020 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Rodong Sinmun The Korean Workers’ Party membership will convene next year for the 8th Party Congress since its formation, according to a surprise announcement carried by the state-run Rodong Sinmun newspaper on Aug. 20. According to North Korean reports, the Congress will meet to discuss the successes and failures of the previous five years, and to set out a new plan for 2021 to 2025. This news comes amid a hard blow to North Korea’s economy in the COVID-19 era. The country also appeared to basically abandon the last five-year economic strategy at the start of 2020, with the Rodong Read More © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01How Assad’s downfall could expose secrets of North Korea-Syria military ties 02All the companies that participated in the Pyongyang Autumn Trade Fair 2024 03No Chinese firms joined North Korea’s latest trade fair dominated by Russia 04What defectors’ exam scores reveal about the quality of North Korean health care 05North Korean Il-76 cargo planes make rare flights to northeast coast 06From aid to academia: The status of foreign organizations in North Korea 07North Korea expanding rail access to airport near Wonsan mega resort: Imagery 08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere

Analysis

What North Korea’s abruptly announced five-year plan means for the economy

The last five-year economic plan was suddenly abandoned in 2020, but the DPRK now pledges to draw up a new one

Peter Ward August 21, 2020

What North Korea’s abruptly announced five-year plan means for the economy

Rodong Sinmun

The Korean Workers’ Party membership will convene next year for the 8th Party Congress since its formation, according to a surprise announcement carried by the state-run Rodong Sinmun newspaper on Aug. 20.

According to North Korean reports, the Congress will meet to discuss the successes and failures of the previous five years, and to set out a new plan for 2021 to 2025.

This news comes amid a hard blow to North Korea’s economy in the COVID-19 era. The country also appeared to basically abandon the last five-year economic strategy at the start of 2020, with the Rodong

01How Assad’s downfall could expose secrets of North Korea-Syria military ties
02All the companies that participated in the Pyongyang Autumn Trade Fair 2024
03No Chinese firms joined North Korea’s latest trade fair dominated by Russia
04What defectors’ exam scores reveal about the quality of North Korean health care
05North Korean Il-76 cargo planes make rare flights to northeast coast
06From aid to academia: The status of foreign organizations in North Korea
07North Korea expanding rail access to airport near Wonsan mega resort: Imagery
08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere

What North Korea’s abruptly announced five-year plan means for the economy

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Peter Ward