North Korea earned up to USD 14.4 billion helping Russia in the war against Ukraine

The participation of North Korea in the Russian invasion of Ukraine has become an extraordinary source of income for Kim Jong-un's regime. According to a report from the Institute for National Security Strategy (INSS) of South Korea, Pyongyang received between USD 7.67 billion and USD 14.4 billion between August 2023 and December 2025 in exchange for supplying weapons and troops to Moscow.

The study, cited by The Wall Street Journal, claims that the North Korean regime profited through the export of artillery shells, rockets, and ballistic missiles, as well as economic compensations derived from the deployment of soldiers on the Ukrainian front.

Weapons, soldiers, and Russian technology

The military cooperation between Vladimir Putin and Kim Jong-un began to deepen after the Russian invasion of Ukraine, when Moscow faced increasing difficulties in sustaining the pace of ammunition consumption.

According to the Defense Intelligence Agency of South Korea, North Korea sent Russia around 33,000 containers of military material, equivalent to more than 15 million 152-millimeter artillery shells.

However, the assistance was not limited to weapons.

In the fall of 2024, more than 15,000 North Korean soldiers were deployed on the front, recording a casualty rate close to one in three troops.

In return, Russia provided:

• Oil and food.

• Sensitive military technology and missile assistance.

• Salaries for North Korean fighters.

• Economic compensations for deceased soldiers.

The report estimates that just from these concepts, Pyongyang obtained about USD 620 million additional.

The largest economic growth in eight years

The economic impact was immediate.

The North Korean economy grew by 3.7% during 2024, according to data from the Bank of Korea, marking its most significant expansion in eight years.

"North Korea's economic situation is the strongest since Kim took power nearly 15 years ago", explained Stephan Haggard, a specialist from the University of California, San Diego, cited by The Wall Street Journal.

The academic described the phenomenon as "an incredible outcome for such a poor country".

An unrecognizable Pyongyang

Changes began to become visible in the North Korean capital itself.

Recent visitors described a city very different from the one that remained isolated during the pandemic:

• Restaurants with wood-fired pizza.

• Chinese electric vehicles circulating the streets.

• Payments via QR codes from cell phones.

• Apps for ordering taxis, food, and medicine.

• New real estate developments.

Just in the last year, North Korea built 10,000 housing units in Pyongyang, a figure that, according to the American newspaper, surpasses the amount constructed in cities like Los Angeles and Chicago during the same period.

Additionally, monthly trade with China reached its highest level in eight years.

A growth with enormous inequalities

Despite this improvement, the economic transformation remains concentrated mainly in the capital.

Outside of Pyongyang, almost half of the 26 million inhabitants continue to suffer from malnutrition, according to United Nations estimates.

Kim Jong-un's regime continues to be internationally labeled as one of the most repressive governments and human rights violators on the planet.

China seeks to regain influence

The growing closeness between Moscow and Pyongyang also raises concerns in Beijing.

Chinese President Xi Jinping visited North Korea this week, marking his first trip abroad of the year.

Analysts interpret the move as an attempt by China to regain prominence over a historical ally that is increasingly dependent on Russia.

"China is trying to get back into the equation", noted John Delury, a historian at Yonsei University in Seoul.

Some experts believe that Beijing may try to convince Kim to resume negotiations with Washington regarding its nuclear program.

However, the economic strengthening resulting from the war seems to reduce the regime's incentives to make concessions.

The paradox is that international sanctions, designed to economically suffocate North Korea, appear to have lost some of their effectiveness due to the war in Ukraine and the close alliance between Kim Jong-un and Vladimir Putin.