ECONOMICS
ECONOMIC GROWTH
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Detailed explanation-1: -Following the establishment of North Korea in 1948, Pyongyang became its de facto capital. The city was again devastated during the Korean War, but was quickly rebuilt after the war with Soviet assistance.
Detailed explanation-2: -The Democratic People’s Republic of Korea was established in the North on 9 September 1948. Shtykov served as the first Soviet ambassador, while Kim Il-sung became premier.
Detailed explanation-3: -The country of North Korea, officially known as the Democratic People’s Republic of Korea (DPRK), has an isolated and tightly controlled command economy. A command economy is a standard component of any communist country. In a command economy, the economy is centrally planned and coordinated by the government.