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BALLOONING BANK ACCOUNT: The Leader Who Spends Millions On WINE Now Cares About Regional Poverty

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Courtesy of Rodong Sinmun
Courtesy of Rodong Sinmun

North Korea has introduced a new Urban Formation and Development Law to promote balanced growth between its capital, Pyongyang, and other regions.

The Workers’ Party’s official newspaper, Rodong Sinmun, reported on Monday that the Supreme People’s Assembly Standing Committee recently convened to discuss and adopt this law along with related decrees.

The newspaper explained that the law’s purpose is to establish strict systems and procedures for urban development in both the capital and local areas. It aims to modernize cities’ appearances and environments to meet the demands of a rapidly evolving era while improving citizens’ living conditions.

While specific details of the law remain undisclosed, analysts suggest it serves as a systematic complement to Kim Jong Un’s extensive modernization efforts. These initiatives, which began in 2021, include the reconstruction and establishment of housing and local factories in the outskirts of Pyongyang.

In January 2021, during the 9th Workers’ Party Congress, North Korea launched the ambitious Pyongyang 50,000 Housing Construction project. This plan aims to build 10,000 housing units annually for five years, totaling 50,000 units in Pyongyang’s outskirts.

Songhwa Street, Hwasong Street, and Rimheung Street have either been completed or are at varying stages of development. The final phase, involving 10,000 units in the Hwasong District, began last February. North Korea aims to complete this construction by the end of this year or early next year, ahead of the 10th Party Congress.

Furthermore, since last year, the country has intensified its focus on developing local infrastructure to address regional disparities. Kim Jong Un has proposed the Local Development 20X10 Policy, a key initiative to revitalize regional economies. This plan involves constructing modern local industrial plants and hospitals in 20 cities and counties over the next decade.

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