The DPRK has been pushing ahead with socialist economic construction for several decades under the unfurled banner of self-reliance.

This is unthinkable apart from the foundations of the self-supporting national economy laid under the guidance of the Workers’ Party of Korea.

At the time of Korea’s liberation in August 1945, the national economy was very backward and lopsided due to the cruel colonial predatory policy of the Japanese imperialists, which lasted for over 40 years.

Therefore, the WPK set forth the line of economic construction on laying the independent foundations for the development of the national economy.

The line of independent national economic construction to build an economy which is self-reliant and self-supporting and serves the people was the development of the programme on economic construction, which was outlined by President Kim Il Sung in the Ten-Point Programme of the Association for the Restoration of the Fatherland during the anti-Japanese armed struggle, in keeping with the historical conditions after the country’s liberation.

Under the guidance of the WPK, the Korean people rehabilitated and bolstered the ruined economy in a short span of time despite Japan’s bluff that it could never be restored by the Koreans’ effort.

The Sixth Plenary Meeting of the WPK Central Committee held on August 5 1953 just after the DPRK’s victory in the Fatherland Liberation War put forward the basic line of economic construction in the post-war period on developing light industry and agriculture simultaneously while ensuring prioritized restoration and development of heavy industry.

It was an original line of economic construction which should be adhered to not only in the restoration and development of the national economy in the post-war period but also in the whole course of socialist construction.

Although the enemies blustered the Koreans would be unable to rise up again in a hundred years, they followed the line to clear away the rubble of war in a few years and make a big stride towards socialism.

The WPK in the December 1956 plenary meeting advanced the policy of bringing about a new upsurge in socialist economic construction and roused all the people to accomplishing the First Five-Year Plan.

The workers of the then Kangson Steel Works produced 120 000 tons of billets by means of a blooming mill with a rated annual capacity of only 60 000 tons and kindled the first torch of the Chollima movement and those of the then Kim Chaek Iron Works 270 000 tons of pig iron with the 190 000 ton-capacity blast furnace, while those at the Hwanghae Iron Works erected a large blast furnace in less than a year.

With the completion of the five-year plan, the DPRK put an end to the colonial lopsidedness of industry and became a developed socialist industrial-agricultural state with firm foundations of the independent national economy.

With the basis for socialist industrialization provided, the WPK put forward the programme of the First Seven-Year Plan for scaling the high peak of socialism in its Fourth Congress in September 1961.

Thanks to the Party’s creation of a new economic management system based on the revolutionary mass line and guidance over the struggle for attaining the six goals of grain, textile, steel and coal production, housing construction and fishing, the major thrust sectors of the seven-year plan, the DPRK successfully carried out the plan and became a socialist industrial state.

Consequently, the DPRK completed the task of socialist industrialization in a matter of 14 years between 1957 and 1970.

Since then, several rounds of long-term plans were implemented to consolidate the foundations of the independent economy.

Therefore, even when the world suffered severe economic distress in the 1970s and 1980s due to food and resource crises, the DPRK’s economy continued to develop in a stable manner.

During the Arduous March and forced march in the 1990s, it developed CNC technology and launched its first artificial satellite Kwangmyongsong 1 with its own effort, technology and resources.

It is the unshakeable faith of the WPK to further build up the might of the independent national economy and demonstrate the spirit of socialist Korea.

At present, much effort is directed to the work to open up excellent prospects for socialist construction by expanding and enhancing the country’s capacity for independent development in different sectors of the national economy.

The metallurgical and chemical industries are holding up higher the banner of Juche orientation. The nation’s effort for boosting power generation capacity gets remarkably stepped up and increasing numbers of farms and farmers reap good harvests even under unfavourable climate conditions.