Socialist Ownership of the Means of Production

Socialist ownership of the means of production means that the material elements for production are under the collective ownership of the socialist working people. In other words, it means that the material elements for production–means of labour and objects of labour–are under the public ownership of a social collective.

Within the state machinery of the DPRK, raw and other materials, land, production-related buildings, means of transport, posts and telecommunications, and all other means of production are placed under the collective ownership of the working people.

Socialist ownership of the means of production is a form of ownership that enables the working masses to become real masters of production and benefit from what has been produced.

This form of ownership can be divided into all-people ownership and cooperative ownership.