The second plenary session of the 8th Central Committee of the Workers’ Party of Korea (WPK) closed Thursday (Feb. 11) in Pyongyang with Kim Jong Un replacing the economy minister, saying he and relevant departments had failed to come up with new ways to save the North Korean economy, the Associated Press reported, citing official North Korean media.
The Associated Press says this is the toughest period in Kim Jong Un’s reign, and he had hoped to lift U.S.-led sanctions against North Korea through diplomatic means, but that effort has stalled. North Korea also closed its borders extensively last year because of the new crown Epidemic, coupled with natural disasters that have destroyed crops, further compounding the damage done to the North Korean economy by decades of failed policies.
China is the mainstay of North Korea’s economy. The border closure caused North Korea’s trade with China to fall by about 75 percent in the first 10 months of the year, the Associated Press said.
At the eighth national congress of the Workers’ Party of Korea in January, Kim Jong Un made a rare admission of North Korea’s economic failure in recent years. He said the goals set by North Korea for its just-ended five-year economic plan fell far short in almost all areas.
That meeting set out the development goals of the new five-year plan in an attempt to revive the poor economy, but Kim Jong Un criticized the economic plan at that plenary session.
In his work report, Kim Jong-un pointed out that the cabinet failed to fulfill its function and role as the country’s economic steering body, formulated unrealistic economic plans, and failed to show innovative ideas and clear tactics.
He added, “The cabinet failed to play a leading role in formulating plans in key economic areas and was only summarizing figures drafted by ministries in an almost mechanical manner.”
Kim also reportedly noted that the cabinet had set targets that were too high for agriculture and too low for the power production and construction sectors.
The meeting elected Oh Soo-yong as economy minister, while Economy Minister Kim Doo-il, who was appointed last month, was replaced. The meeting also elected Foreign Minister Lee Sun-kwon as a member of the Politburo of the Workers’ Party and Kim Sung-nam as an alternate member of the Politburo.
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