The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Chinese hackers attack 12 Korean academic institutions: KISA

  • 3

    Heavy snow hits Seoul, surrounding areas

  • 5

    From period to action: different genre series set for February

  • 7

    Why Korea imports so much kimchi from China

  • 9

    Homeless women struggle to find place to spend night

  • 11

    Netmarble debuts virtual girl group MAVE:

  • 13

    Korea's move to cut subsidies on imported EVs faces backlash

  • 15

    More than dozen chaebol scions indicted on alleged drug use

  • 17

    Major Korean banks' overseas branches sanctioned by foreign authorities

  • 19

    Yoon calls for adjusting regulatory, labor systems to global standards

  • 2

    Koreans stunned by spike in heating costs

  • 4

    Chinese hackers threaten to attack S. Korean cybersecurity watchdog

  • 6

    Campaign launched to respect multicultural families, foreign nationals

  • 8

    Cold wave warnings issued across Korea; Seoul witnesses coldest day

  • 10

    Center offers free STI testing to foreign residents of Korea

  • 12

    Cargo ship carrying 22 sinks off Jeju, 14 rescued but 9 unconscious

  • 14

    ANALYSISChina's reopening to help ease inventory woes

  • 16

    Lawmaker pushes for bill requiring women to join civil defense training

  • 18

    Seoul subway, bus fares to rise by 300 or 400 won

  • 20

    Samsung chief gives gifts to new moms, employees from multicultural families

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
North Korea
Fri, January 27, 2023 | 09:46
N. Korea to unveil new economic plans in January party meeting
Posted : 2020-08-20 11:24
Updated : 2020-08-20 15:58
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
North Korean leader Kim Jong-un / Korea Times file
North Korean leader Kim Jong-un / Korea Times file

North Korea will hold a rare ruling party congress in January where leader Kim Jong Un will announce a new five-year plan to develop the country's dismal economy ravaged by U.S.-led sanctions and the coronavirus pandemic, state media said Thursday.

The plans were confirmed Wednesday during a plenary meeting of the Workers' Party's decision-making Central Committee where Kim acknowledged economic shortcomings caused by ''unexpected and inevitable challenges in various aspects and the situation in the region surrounding the Korean Peninsula.''

The report by Pyongyang's official Korean Central News Agency didn't directly mention nuclear diplomacy with the United States, which has stalled over disagreements in exchanging sanctions relief and denuclearization steps.

The Workers' Party last convened for a full congress in 2016, which was its first in 36 years, where Kim announced his initial five-year national development plan, which included goals for improving power supply and increasing agricultural and manufacturing production.

Entering the plan's final year, Kim during the Central Committee's last plenary meeting in December declared a ''frontal breakthrough'' against sanctions while urging his nation to stay resilient in the struggle for economic self-reliance.

But experts say the COVID-19 crisis has clearly derailed some of Kim's major economic goals after North Korea imposed a lockdown that significantly reduced trade with China -- its major ally and economic lifeline -- and likely hampered its ability to mobilize its workforce.

It's also possible Kim could use the party congress, which would take place after the U.S. presidential election in November, to announce a new foreign policy approach toward the United States and rival South Korea.

Kim's economic setbacks have left him with nothing to show for his high-stakes summitry with President Donald Trump, whom he first met in June 2018 in Singapore, where they issued an aspirational statement on a nuclear-free Korean Peninsula without describing when and how it would occur.

Their diplomacy deteriorated last year in Vietnam, after their second meeting, when the Americans rejected North Korea's demands for major sanctions relief in exchange for a partial surrender of its nuclear capabilities.

The North has recently said it has no immediate intent to resume talks with Washington, vowing not to gift Trump with meetings he could boast as foreign policy achievements unless it gets something substantial in return.

Some experts say the North would likely avoid serious negotiations with the United States before the election as it wouldn't want to make any major concessions when there's a chance U.S. leadership could change. (AP)


 
wooribank
Top 10 Stories
1Koreans stunned by spike in heating costsKoreans stunned by spike in heating costs
2Homeless women struggle to find place to spend night Homeless women struggle to find place to spend night
3Inflation weighs on householdsInflation weighs on households
4[INTERVIEW] Partnerships with Korean companies help Delta Air Lines' post-pandemic recovery INTERVIEWPartnerships with Korean companies help Delta Air Lines' post-pandemic recovery
5'I was a stock investment addict': psychiatrist seeks to help addicted people through his book 'I was a stock investment addict': psychiatrist seeks to help addicted people through his book
6Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters
7Netflix series 'The Glory' draws focus to real school bullying Netflix series 'The Glory' draws focus to real school bullying
8Gov't to double subsidies for vulnerable households as energy bills soar Gov't to double subsidies for vulnerable households as energy bills soar
9[VIDEO] Do Koreans know K-pop idols well? VIDEODo Koreans know K-pop idols well?
10S. Korea to increase joint air defense exercises following N. Korean drone incursionsS. Korea to increase joint air defense exercises following N. Korean drone incursions
Top 5 Entertainment News
1From period to action: different genre series set for FebruaryFrom period to action: different genre series set for February
2Miguel Chevalier's psychedelic digital universe takes audience participation to next level Miguel Chevalier's psychedelic digital universe takes audience participation to next level
3Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film
4Yun Hyong-keun's hanji works come under spotlight in Paris for first time Yun Hyong-keun's hanji works come under spotlight in Paris for first time
5Kim Hyun-joo says humanity is at heart of action film 'Jung_E' Kim Hyun-joo says humanity is at heart of action film 'Jung_E'
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

wooribank
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group