Discussion of Kim-Putin talks taking place on the sidelines of China's military parade, as per Kremlin announcements

North Korea's Economic Growth and Digital Currency Plans

North Korea's economy is on the rise, with the North Korean Central Bank forecasting a growth of 6.1 percent in 2025. This marks the fastest growth in eight years, as the economy grew by 3.7 percent in 2024.

The Central Bank attributes this growth to increased investments in infrastructure and technology. In line with this modernization effort, the Bank announced plans to introduce a digital currency, named "Kwon," in 2025.

The "Kwon" digital currency will be based on blockchain technology and is intended to improve the efficiency and security of financial transactions. The Bank expects the introduction of this digital currency to attract foreign investments and boost the country's economy.

The Bank also stated that the introduction of the "Kwon" digital currency will not replace physical currency but will coexist with it. Furthermore, plans to establish a cryptocurrency exchange have been announced to facilitate transactions in the "Kwon" digital currency.

The Bank's strategic move to stay competitive in the global economy is a response to the increasing use of cryptocurrencies worldwide.

North Korea's diplomatic landscape has also seen a shift, as the country participated in China's Victory Day ceremony. This participation indicates a change in the country's international relations.

In terms of diplomacy with neighbouring countries, North Korea does not seem to be actively engaging with South Korea or the United States, according to a security adviser. However, the specific timeframe or reasons for this inactivity are not mentioned.

On the other hand, North Korea's economic ties with Russia have been strengthening. In 2024, North Korea deepened its military and economic cooperation with Russia, including delivering weapons and signing a partnership agreement with mutual defense clauses. The North declared South Korea its "main enemy" and abandoned ambitions for peaceful reunification, while maintaining close alignment with Russia amid the Ukraine conflict.

A significant event in this strengthening of ties was the meeting between North Korean leader Kim Jong-un and Russian President Vladimir Putin, which took place at Kumsusan State Guest House in Pyongyang on June 19, 2024. The meeting was captured by the North's official Korean Central News Agency.

The North Korean Central Bank expects that the country's trade with Russia will increase by 50 percent in 2025, due to the strengthening of economic ties between the two nations.

In conclusion, North Korea's economy is showing signs of growth, with the introduction of a digital currency and increased trade with Russia. However, the country's diplomatic activities with South Korea and the United States remain unclear.

Discussion of Kim-Putin talks taking place on the sidelines of China's military parade, as per Kremlin announcements