February 26, 2021

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North Korea vows to assert more control over the economy and fix past woes

DPRK leaders promised to take more control of the economy at the Supreme People’s Assembly on Sunday, state media says

North Korean officials vowed to address the country’s economic failures by asserting more control over its markets and placing greater responsibility on the nation’s Cabinet in a sweeping move that has sparked concern among some analysts.

On Monday, the DPRK’s state-run Korean Central News Agency (KCNA) reported that the fourth session of the 14th Supreme People’s Assembly (SPA) was held in Mansudae Assembly Hall on Jan. 17. At the SPA, officials reportedly discussed the country’s past and future five-year economic plan, and state media said the Cabinet would recover its “leading role in controlling the commercial service activities while reviving the essence of socialist commerce.”