The Eighth Congress of the Workers’ Party of Korea set forth an economic strategy designed to achieve the comprehensive development of the state by putting the overall national economy on an upward track.
This economic strategy whose gist is readjustment and reinforcement was an original one that helps the national economy maintain its socialist character and independence and turn to a new stage of growth.
The DPRK has strenuously pushed ahead with the expansion of capacity, reconstruction of lines and modernization in accordance with the new five-year plan for national economic development advanced by the Eighth Congress of the WPK.
Projects were launched to expand the production capacity of the overall national economy in a far-sighted way and renovate the outdated and backward lines on a modern basis.
Priority was given to the metallurgical industry to boost the capacity of iron production, while efforts were made to transform the structure of the chemical industry into a Juche-based industry relying on domestic raw materials.
Besides, other projects aimed at attaining sustainable production growth in the key industrial sectors made headway. They included the work to turn the machine-building industry into the one with reliable foundations and into a development- and creation-oriented industry, the work to lay a solid foundation for entering the next stage of development by completing the power bases under construction as early as possible and stabilizing power production by making the most of the existing generating capacities in the power industry sector, and the work to consolidate the material and technical foundations of the coal-mining industry.
As a result, new iron production lines were built at the Kim Chaek Iron and Steel Complex and the Hwanghae Iron and Steel Complex, an advanced Korean-style melamine resin production line was inaugurated in the Hungnam Fertilizer Complex, and the second-stage renovation and modernization project was completed at the Kumsong Tractor Factory. And many other similar successes have been made in the efforts to implement the Party’s economic strategy, thus setting the national economy on an upward track.
Kim Hyon
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