Kim Jong Un chairs enlarged Workers' Party meeting on 2026 economic plan

Bank of Korea estimates North Korea grew 3.5% in 2025

Kim Jong Un led an enlarged meeting of the Workers’ Party Central Committee’s political bureau on Tuesday to review implementation of North Korea’s 2026 economic policy goals, the Korean Central News Agency reported Wednesday. The meeting discussed progress in “major economic sectors” and shortcomings in carrying out the five-year economic plan adopted at February’s Ninth Party Congress.

Officials cited “unfavorable conditions and difficulties arising alongside ever-changing circumstances,” and Kim blamed the problems on the “immature operation and leadership of the economic guidance organs.” He called on officials to “successfully conclude this year’s struggle without fail,” according to KCNA.

South Korea’s Bank of Korea estimated North Korea’s economy grew 3.5% in 2025 — its third consecutive year of growth above 3%. The central bank attributed the expansion to deepened economic cooperation with Russia, increased trade with China, and domestic policy projects, and said North Korea’s real GDP has surpassed its 2017 level, when United Nations sanctions were tightened. The figure places North Korea’s economy in a stronger position than at any point since the sanctions-tightening period, even as officials at Tuesday’s meeting flagged continued difficulties in plan implementation.

At February’s Ninth Party Congress, Kim had hailed the previous five-year plan as a success and said the next would focus on stabilizing and consolidating the economy while pursuing “gradual and qualitative development” of industry and agriculture. He called improving the economy and raising living standards “heavy and urgent historic tasks.”

Kim did not mention Trump or recent U.S. moves in his remarks reported by KCNA. The meeting came as Trump has publicly pressed for a meeting with Kim this year and last week ordered the United States and South Korea to curtail their annual Ulchi Freedom Shield military exercise, citing its cost and saying the drills sent an “inappropriate and hostile” signal to Pyongyang. Kim’s sister, Kim Yo Jong, addressed the drills reduction separately last week, saying Pyongyang had “no interest” in the move. “If the U.S. calculates that it can propagate its recent measure as the one of so-called good faith, they will not get desired answer,” she said.

Analysts have questioned whether Pyongyang has much incentive to return to negotiations on Washington’s terms. North Korea is less economically isolated than during Trump’s first term, when it faced mounting international sanctions pressure while Trump pursued direct diplomacy with Kim. The two leaders held summits in Singapore and Hanoi and met briefly at the Demilitarized Zone, but no nuclear deal was reached.

Bruce Klingner, senior fellow at the Maureen and Mike Mansfield Foundation, said Tuesday the chance of a meeting appeared “slim to none.” Speaking at a forum hosted by the Korea Economic Institute of America in Washington, Klingner said “North Korea right now feels [it is] in the strongest position it’s been for quite some time,” pointing to economic ties with Russia and China as well as revenue from cryptocurrency theft.

“It’s getting about a billion dollars a year from cryptocurrency crime, so it doesn’t need the U.S. and sanctions relief as it did several years ago,” Klingner said. “So I think they’re just going to sit back … [saying] ‘we don’t close the door on engagement, but you need to offer more.’”

Trump on Tuesday reposted his directive to cut back the U.S.-South Korea joint drills, again highlighting his “very good relationship” with Kim. He also posted several photos of himself with the North Korean leader from their meetings in Singapore and at the DMZ.