Search Site

Trends banner

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

North Korea prepares for conflict as Kim inspects warships

North Korean leader Kim Jong Un.
  • The country last year launched what it called its first "tactical nuclear attack submarine"
  • Experts said the vessel seemed to be modified from an existing diesel-electric submarine

Seoul, South Korea–North Korean leader Kim Jong Un inspected warships at a shipyard in a renewed drive to bolster his naval forces as his country ramps up “war preparations”, state media said Friday.

In recent weeks, Kim has declared South Korea his country’s “principal enemy”, jettisoned agencies dedicated to reunification and outreach, and threatened war over “even 0.001 mm” of territorial infringement.

He also recently hailed the test launch of a new strategic cruise missile from a submarine, calling it a key moment in the development of the North’s naval power.

“The strengthening of the naval force presents itself as the most important issue in reliably defending the maritime sovereignty of the country and stepping up the war preparations at present,” Kim said at the Nampho Dockyard, according to the Korean Central News Agency.

A nuclear-powered submarine was on Kim’s strategic weapons wish list set out at a key party congress in 2021, along with a hypersonic warhead, spy satellites and solid-fuel intercontinental ballistic missiles.

During his visit to the Nampho shipbuilding base, about 65 kilometres southwest of Pyongyang, Kim was briefed on various warships under construction as well as preparations for a “new huge plan” assigned by the ruling party.

No details of the plan were provided.

Kim “expressed expectation that the workers of the dockyard would successfully build on the world level the major warships,” KCNA said.

North Korea last year launched what it called its first “tactical nuclear attack submarine”, which Seoul’s military at the time said did not look to be operational.

Analysts said the vessel appeared to be modified from an existing diesel-electric submarine originally designed in the 1950s, and have posed questions about its limitations and vulnerabilities as a platform.