North Korea’s state-owned airline, Air Koryo, recently embarked on its first international flight since the onset of the Covid-19 pandemic. This significant development is seen as a positive sign of easing border restrictions, which may facilitate the repatriation of stranded North Koreans abroad and boost trade relations with its powerful neighbor, China.
Flight data reveals that an Air Koryo passenger jet departed from Pyongyang to Beijing on Tuesday, marking the first commercial flight between the two destinations in over three years. China’s Foreign Ministry confirmed that permission was granted for the flight, demonstrating a mutual desire to improve connectivity between the two nations. Furthermore, additional flights between Vladivostok and Pyongyang are scheduled on Friday and August 28, according to NK News.
At the beginning of the pandemic in early 2020, North Korean leader Kim Jong Un sealed the country’s borders, effectively halting legal trade and stranding North Korean diplomats and workers abroad. This drastic measure not only severely impacted the nation’s economy, already burdened by heavy sanctions, but also disrupted its foreign relationships. However, recent developments indicate a change in approach.
In a positive shift, North Korea allowed high-level delegations from Russia and China to enter the country for the first time in over a year. Additionally, a group of North Korean taekwondo athletes recently participated in a championship held in Kazakhstan, showcasing the country’s willingness to engage internationally once again.
The resumption of trade with China, historically North Korea’s largest trading partner, has led market research firm Fitch Solutions to estimate that the North Korean economy has returned to growth after two years of contraction. However, uncertainties persist despite these encouraging signs.
Notably, Air Koryo has previously been ranked among the worst airlines globally. As North Korea reopens its borders and aims to strengthen international ties, improvements in the airline’s services and safety standards will be crucial. With the potential for increased travel and trade, Air Koryo has an opportunity to transform its reputation and provide a more positive travel experience for passengers.
North Korea’s resumption of international flights, particularly the recent Air Koryo flight to Beijing, indicates a potential easing of border restrictions and the pursuit of stronger trade relations with China. While uncertainties persist, these developments offer hope for the repatriation of stranded North Koreans and the revitalization of the country’s economy. As North Korea takes steps towards international re-engagement, it is important to monitor the progress and its impact on various aspects of the nation’s growth and development.
Market Capital Research 