Analysis What North Korea’s abruptly announced five-year plan means for the economyThe last five-year economic plan was suddenly abandoned in 2020, but the DPRK now pledges to draw up a new one 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 © Korea Risk Group. All rights reserved. |