North Korea’s economy showing signs of recovery, says South Korea

North Korea’s economy is showing signs of recovery after a prolonged downturn, aided by strengthening ties with Russia and China, South Korea’s unification ministry has said.

In a five-year plan for inter-Korean relations covering 2026 to 2030, the ministry assessed that Pyongyang has moved beyond a period of recession, supported by expanding cooperation with key allies. The report was submitted to the National Assembly’s Foreign Affairs and Unification Committee.

According to the assessment, North Korea has developed relations with Russia that resemble an alliance, including collaboration in advanced weapons systems and technology transfers. At the same time, it is seeking to rebuild practical ties with China, contributing to improved economic conditions.

The ministry said Pyongyang is also attempting to enhance its strategic autonomy and bargaining power by leveraging geopolitical tensions, particularly the rivalry between the United States and China, while strengthening links with traditional partners.

The policy blueprint outlines the South Korean government’s approach towards North Korea, focusing on peaceful coexistence, mutual development and the long-term goal of a denuclearised Korean Peninsula.

Meanwhile, cooperation between North Korea and Russia appears to be deepening across multiple fronts. Trade union representatives from both countries recently held talks in Pyongyang and signed an agreement aimed at expanding exchanges and collaboration.

The development comes amid growing alignment between the two nations, following North Korea’s reported support for Russia in its ongoing conflict in Ukraine, which has further strengthened bilateral ties.

South Korean officials said these evolving relationships are playing a key role in shaping North Korea’s economic trajectory, even as regional security dynamics remain complex.

With IANS inputs