Economic independence is a fundamental guarantee for developing the national economy in a sustainable and stable way, regardless of any external factors.

The Eighth Congress of the Workers' Party of Korea clarified the most scientific strategy to bring about epoch-making change in further strengthening the independence and possibilities of the national economy.

The economic strategy adopted by the WPK is the strategy of readjustment andreinforcement.

Five years has passed since the economic strategy was clarified.

In those years, a sure fruition of the strategy of readjustment and reinforcement was provided in the field of key industries amid the constant efforts of the state to normalize the production in all sectors of the national economy with the metallurgical and chemical industries as main links.

Rapid Development of the Metallurgical Industry and Progress of the Chemical Industry

In the Democratic People's Republic of Korea, the metallurgical industry is regarded as a pillar of the independent national economy.

Over the past five years, entities of Juche-orientation and modernization have been completed in succession, demonstrating the vigorous and rapid development of the metallurgical industry, a main link in readjusting and reinforcing the overall national economy and strengthening the foundation for independent national economy.

The work for making the metallurgical industry Juche-oriented was dynamically promoted, such as further developing the Juche-based system and method of making iron technologically and expanding the production capacity. Amidst it, another modern equipment including new-type energy-saving oxygen-blast furnace and oxygen plant was installed and new technical processes built at a number of iron production units.

Besides, an iron and steel production process based on iron trioxide was built at the Chongjin Steel Works and other valuable successes conducive to strengthening the independence of the metallurgical industry were made consecutively and simultaneously.

The chemical industry is one of the twin pillars of the national economy along with the metallurgical industry.

Over the past five years, a sure progress has been made in the establishment of technical process for strengthening independence and modernity of the chemical industry, the expansion of the production capacity and the production of Juche fertilizer.

The crystal thenardite production process was established at the December 5 Youth Mine, the sodium carbonate production process and the catalyst production base built at the Namhung Youth Chemical Complex and the new low-temperature brown coal carbonization process at the Myonggan Chemical Factory.

In addition, the melamine resin production process was built at the Hungnam Fertilizer Complex and the salt melting ground at the February 8 Vinalon Complex. Like this, significant successes were achieved one after another in the work for strengthening the independence and modernity of the basic chemical industry.

The meaningful results, which demonstrated the vigorous and rapid development of the metallurgical industry and registered a sure progress in the chemical industry, powerfully led the development of the independent economy.

Vitality Injected in the Overall Economy

In January this year, an inaugural ceremony of the first-stage modernization project took place with splendour at the Ryongsong Machine Complex, the mother base of the machine-building industry of the country.

With the modernization of the Ryongsong Machine Complex promoted powerfully, valuable experience was accumulated in the modernization of the machine-building industry and a foundation laid for a number of machine-manufacturing units to take the course of modernization of the next stage by pushing ahead with the reconstruction of technical processes in a substantial way while normalizing their current production.

Such experience and foundation for entering into the course of development of the next stage were accumulated not only at the Ryongsong Machine Complex.

The Jonchon Rock Drill Factory was remodelled into a modern machine-building base with flexible manufacturing system and a new automatic control system for heat treatment established at the material production process of the Taean Heavy Machine Complex. Such noteworthy successes were made in succession.

The construction of large-scale power bases, minor power stations and photovoltaic power plants was actively conducted on a nationwide scale. Notably, the construction of the Orangchon Power Station with huge scale and amount of work and difficult conditions was completely finished in August 2022. The construction of the Tanchon Power Station, the largest one in the history of hydraulic generation of the country, was vigorously promoted and its first-stage construction project is nearing completion.

Unit 4 of the Huchang Mine Power Station was completed in 2021, Unit 2 of the Kujang Youth Power Station and Unit 1 of the Hamhung Youth Power Station in 2022, Unit 5 of the Hungju Youth Power Station, the Phyonggang Army-People Power Station, the Sepho Army-People Power Station and Unit 3 of the Naephyong Power Station in 2023, and the Kosong Army-People Power Station, the Hoeyang Army-People Power Station and Unit 3 of the Usi Power Station in 2024 and 2025.

Over the past five years, the construction of minor power stations was vigorously carried on across the country, opening up a firm prospect for producing more electricity.

Along with it, photovoltaic power plant of system interconnection and similar ones with great economic profits and good prospect were built in different regions including Pyongyang, South Hamgyong Province and South Phyongan Province. And the solar power generation system was established at a number of units including the Sci-Tech Complex and the Ryuwon Footwear Factory. As a result, valuable successes were made in the work for solving the problem of electricity.

The sure progress made in the machine-building industry bases of the country and the successes in the field of electric power industry maintaining the power generation in a stable way enable us to firmly believe the development phase of our national economy making a simultaneous and balanced progress.

Development of Independent Economy Guaranteed

Expanding the production capacity of the coal industry sector ensuring the food of industry is an essential premise and guarantee for developing the overall national economy including the metallurgical industry, chemical industry, power industry and building materials industry in a sustainable way.

Over the past five years, the coal industry sector has powerfully promoted the production capacity expansion project and thus provided a firm guarantee to the continued upturn phase of the whole economy.

New coal mines with large production capacity were developed and new pit construction powerfully accelerated, providing a firm guarantee to satisfy the growing demand for coal. And the belt conveyor construction and reconstruction projects were finished with success, thus providing favourable conditions for expanding the coal production capacity.

Besides, low-temperature brown coal carbonization furnaces with a large capacity were built at different units in the field of coal industry and the work of building plot-, labour- and energy-saving coal depots at all coal mines across the country was promoted in a planned way, laying a sure foundation for prospective development.

Over the past five years, the work for reinforcing and expanding the production base in all aspects has been vigorously conducted in the field of mining industry.

In the course, wet copper smelting plant with modern production processes was inaugurated at the Sangnong Mine and the large-size long-distance belt conveyor transport line renovated at the Komdok Mining Complex. Like this, remarkable progress was made in the work for laying material and technical foundations of the mineral production bases.

In particular, the inauguration of the prospecting machine factory with large capacity, which can produce drilling machines and pumps of high performance, opened a bright prospect for decreasing the degree of dependence on import of industrial raw materials and fuel by developing a lot of underground resources of the country.

The powerful acceleration of the readjustment and reinforcement at different units in the field of mining industry laid a stepping stone for entering into the course of development of the next stage.

Over the past five years, the expansion of capacity, remodelling of processes and modernization have been dynamically promoted in all sectors of the national economy, not one or two, making it possible to take sure track of growth and development.

The springboard for development of the independent economy was made along with the five years that opened up new upsurge phase for the development of socialist independent economy.