In his year-end address, Kim Jong Un, leader of North Korea, spotlighted the nation’s accomplishments and milestones during 2023, positioning it as a pivotal year.
What Happened: As per a Politico report from Tuesday, Kim commenced an influential political assembly to deliberate on the policy goals for 2024, lauding the country’s enhanced power and reputation. The meeting, slated to last multiple days, will reflect on this year’s state initiatives and define the agenda for the forthcoming year.
Kim underscored noteworthy advancements in armament development, comprising the inauguration of its maiden military reconnaissance satellite and other high-tech weaponry.
Despite facing economic hurdles due to global sanctions and the pandemic, Kim highlighted a rare prosperous harvest this year, the early completion of new irrigation systems, and the development of contemporary streets, houses, and other structures nationwide.
The bolstered defense capabilities and infrastructure growth are perceived as steps to enhance North Korea’s national strength and prestige. The results of the meeting, including Kim’s concluding remarks, will likely be published in state media on New Year’s Day.
Why It Matters: Kim’s leadership in North Korea has seemingly been strengthened by recent military and economic progress. Among these achievements, noteworthy strides in the weapons program and arms transfers to Russia have possibly fortified the sanction-impacted economy.
However, amid these advancements, North Korea is confronting a major population crisis, which Kim acknowledged in a rare admission in December. This demographic issue could potentially impact the nation’s economic stability and military strength, which heavily rely on human resources.
Image via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.