Promulgation of the law on nationalization of major industries by President Kim Il Sung was a historic event that was of an epochal significance in the development of the Korean revolution and the struggle of the Korean people for the building of the self-sufficient national economy.
Thanks to the nationalization of the major industries the working class in the DPRK became not only the master of power but the full-fledged master of the factories, means of production.
Economic life is a field that forms the basis in the social life and it is an essential demand for the successful realization of the socialist cause that the masses of the people become the master in the economic life.
Whether the popular masses occupy the position and play the role as the master in the economic life or not is decided by the economic system of the society, especially by the system of ownership.
Before the national liberation most of the Korean industries were monopolized by the Japanese imperialists and the comprador capitalists, and this terribly suppressed the development of the national economy.
Seeing through the requirements of the developing revolution with the far-sig
Factional flunkeyists and dogmatists persisted that industries should be nationalized in the stage of the socialist revolution and all the industries be nationalized or the industries should be brought under the individual ownership of the capitalists as the Korean revolution itself was a bourgeois revolution. They even talked wild that the major industries were owned by the Korean people with the defeat of the Japanese imperialists, so it was not necessary to promulgate the law on the nationalization of industries.
President Kim Il Sung firmly maintained the stand that the factories and enterprises under the ownership of the Japanese imperialists should naturally come under the ownership of the Korean people. And he set forth the nationalization of industries that had been recognized only as the task of the socialist revolution as the main task of the anti-imperialists, anti-feudal democratic revolution, proceeding from the specific situation of the DPRK.
President Kim Il Sung protected by law the ownership of the national capitalists and encouraged the management of individual businessmen and commercialists while confining the object of nationalization of the major industries to the ownership of the Japanese imperialists and traitors to the nation in keeping with the stage of the anti-imperialist, anti-feudal democratic revolution.
In order to successfully nationalize the major industries President Kim Il Sung set forth the slogan “Factories to the Workers” and saw that committees of factories were widely organized to control and manage the industrial facilities and economic bodies, objects of nationalization and establish a well-organized system of control and management by the organs of the people’s power over them.
President Kim Il Sung promulgated the Law on Nationalization of Industries, Transport, Posts and Telecommunications and Banks on August 10, Juche 35 (1946). Over 1 000 facilities of major industries equivalent to over 90 % of all the industries were brought under the all-people ownership by the Law on Nationalization of the Major Industries.
Thanks to the nationalization of the major industries, the economic foundation of imperialist exploitation and subjugation was obliterated and thus the root cause of all sorts of social misfortunes was mainly removed in the field of industry and the major means of production came to serve the prosperity and development of the country and the improvement of the welfare of the working masses.
President Kim Il Sung set forth the matter of nationalization of industries as an important historic task and solved it brilliantly and, as a result, economic basis of all social misfortunes was eliminated and a solid foundation to smoothly go over to the socialist revolution prepared.
President Kim Il Sung stepped up the work to blaze the trail into socialism in the fierce flames of the war as well as in the period of the building of a new country. In the post-war period he brilliantly transformed the relations of production in urban and rural areas along the socialist lines, thus putting an end to the root cause of exploitation and poverty and firmly establishing the socialist system of Juche in the DPRK.
Looking far ahead into the future, President Kim Il Sung laid a solid foundation for establishing the socialist economic system from the stage of the democratic revolution and gave full play to the superiority of the Juche-oriented socialist economic system to build a powerful self-sufficient national economy of socialism by relying on our own efforts, resources and technology. This is an eternal treasure for the country’s lasting prosperity and well-being and a great immortal historic exploit that will shine forever through generations.
The Korean people increased the capacity of production of the main sectors of the national economy and staunched a vigorous campaign for their modernization to consolidate more solidly the material and technical foundations of socialism of our own style even in the acute political and military confrontation during the past Arduous March and the forced march.
Today the socialist economic system of the DPRK is more firmly consolidated, its superiority fully displayed and the economic might of the country highly enhanced under the outstanding and seasoned leadership of the respected Comrade Kim Jong Un who brilliantly inherits the President’s cause of building the socialist economy.
All the ac
With the solid foundation of the self-sufficient national economy of the DPRK prepared by President Kim Il Sung, the peerless patriot and the father of socialist Korea and upholding the respected Comrade Kim Jong Un, the illustrious commander who brilliantly carries forward and completes his cause, the DPRK will soon surely reach the high peak of a thriving socialist nation.
