North Korea's Embassy Closures Reflect Dire Economic Situation

TL;DR Summary
North Korea is closing several embassies, including those in Hong Kong, Spain, and Africa, as its economy continues to struggle. The closures are seen as a result of tightening global sanctions and the country's inability to maintain diplomatic relations with traditional allies due to financial constraints. North Korea's diplomatic strategy is shifting towards closer ties with China and Russia, as it believes it can survive by strengthening military and economic cooperation with these countries. The closures highlight the dire economic situation in North Korea, exacerbated by the COVID-19 pandemic and the depletion of foreign currency reserves.
- North Korea’s economy is so ‘dire’ it’s closing embassies to save money South China Morning Post
- Kim Jong Un Sees Bigger Cash-Cow in Russia Arms Than Embassies Bloomberg
- North Korea turns further inward with embassy closures Nikkei Asia
- North Korea shuts down multiple embassies, South Korea speculates financial issues are the reason Yahoo News
- View Full Coverage on Google News
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