economy

Economic development in the DPRK precisely means the fulfilment of the plans of all sectors and units of the national economy.

In the first half of this year, many units have fulfilled their national economic plans ahead of schedule or overfulfilled them.

According to data available, youth shock brigades of coal mines of the Kaechon Area Coal-mining Complex already carried out their first half-yearly plans ahead of schedule, while hundreds of weavers in the textile industry sector fulfilled their first half-yearly and yearly plans ahead of schedule.

The metallurgical industry sector has almost completed the first half-yearly plan.

Iron ore mines in different parts of the country and refractory, graphite and electrode production units overfulfilled their monthly plans by May and the Kim Chaek Iron and Steel Complex, a leading iron production base, accomplished its rolled steel production plan. 

The Unnyul, Jaeryong and Jangsan mines and the Hungnam Electrode Factory overfulfilled their production plans for iron ore, graphite, refractory and electrode in May and continue to expand their successes. 

The chemical industry is overfulfilling the production plans for chemical fertilizer and other indices.

The Namhung Youth Chemical Complex and Hungnam Fertilizer Complex are overfulfilling their fertilizer production quotas every day.

The Sunchon Chemical Complex, Sinuiju Chemical Fibre Mill, Ponghwa Chemical Factory, Pyongyang Rubber Factory and other chemical industry establishments are also fulfilling their planned production quotas without fail.

The electric power industry sector is achieving successes in executing the electricity production plan.

The Pukchang Thermal Power Complex, Pyongyang Thermal Power Station and other thermal power stations are ensuring a high level of electric power generation. Hydropower stations across the country are increasing the electricity output by applying proper methods of hydraulic structure management, inspection and repair of power systems and scientific water management. 

The Chonsong Youth Coal Mine under the Sunchon Area Youth Coal-mining Complex and many other coal-mining industry units have overfulfilled their production plans by introducing efficient working methods.

The machine-building industry is directing efforts to improving the quality of products, bringing about a surge in production.

The Ryongsong Machine Complex is speeding up the production of custom-built equipment, while the Pyongyang General Electric Cable Factory 326, Munchon Valve Factory, Jonchon Rock-drill Factory and other factories are increasing production by making effective use of their existing capacity.

The Anju Insulator Factory, Ryangchaek Bearing Factory, Taedonggang Electrical Appliances Factory and other units have upgraded their equipment, taking the lead in implementing their daily plans.

The mining industry is increasing the production of minerals and nonferrous metals.

The Munphyong and Manpho smelteries introduced research successes into practice to reduce costs and put effort into raising the actual extraction rate so as to implement the plans by indexes.

The forestry sector overfulfilled its plan for timber production by more than 10 percent in May.

The Sangwon Cement Complex is bringing about an unprecedented upsurge in production, thus carrying out the production plan ahead of schedule. The Sunchon Cement Complex has produced tens of thousands of tons of more cement so far this year than in the same period of last year.

Many enterprises of the fishery sector are achieving good results in fishing and offshore farming.