In that context, there was little in Kim's speech to suggest that President Donald Trump's bellicose rhetoric and uncompromising position on North Korea have succeeded at intimidating him into submission, but his combination of nuclear saber-rattling at the USA with an overture of reconciliation to South Korea could provide some clues as to Pyongyang's diplomatic strategy going forward.
His remarks come after both the USA and the United Nations slapped repeated rounds of sanctions against the state in response to Pyongyang's aggressive weapons testing. However, he also steadfastly declared North Korea a nuclear power.
But in a rare move the dictator tempered his bellicose rhetoric with the suggestion he may send a North Korean delegation to the Winter Olympics when they are held in South Korea.
India's December manufacturing PMI sees fastest growth in five years
In response to greater inflows of new business , job creation quickened to the greatest since August 2012. Concerns over relatively subdued client demand and government policy changes dampened confidence.
Kim said in his New Year's speech Monday that the DPRK will take necessary measures to prepare to participate in the South Korea-hosted winter sports event, including the inter-Korean dialogue on the DPRK's participation.
Lee Hee-beom, president of the Pyeongchang Organizing Committee, said it welcomed North Korean participation and would "discuss relevant matters with the South Korean government as well as the International Olympic Committee".
The Winter Olympics will be held from 9-25 February, followed by the Paralympics from 9-18 March.
North Korea has rattled the global community in recent months with multiple missile launches and its sixth and most powerful nuclear test - purportedly of a hydrogen bomb.
Cities across the globe welcome New Year
In Hong Kong, the fireworks display lit up the sky above the iconic Victoria Harbour to the sound of Auld Lang Syne remix. The New Year obviously arrives at different times for different countries across the globe.
South Korean Unification Minster Cho Myoung-gyon says the South proposes the two Koreas meet January 9 at the border village of Panmunjom to discuss Olympic cooperation and how to improve overall ties. The United Nations Security Council last month approved its strongest sanctions yet on North Korea - a move that Pyongyang described as an "act of war".
Kim also reportedly highlighted the isolated state's economic achievements during the speech, and nodded towards trying to improve the country's standard of living. "The US can never start a war against me and our country".
Daniel Russel, the top USA diplomat for East Asia until last April and now at the Asia Society Policy Institute, said there was an argument to be made to encourage North Korea's Olympic participation but that it should not be taken too far. Alternatively, he may see this as an opportunity to drive a wedge between his enemies if South Korea, which has no appetite for war with the North, attempts to make a deal that the Trump administration won't support.
Sensex ends 99 points lower; Nifty settles below 10500
Infratel (+2.4%), Asian Paints (+2%), TCS (+1.7%), Tata Motors (+1.6%) and Axis Bank (+1.5%) were the top gainers on Nifty50. The Sensex advanced by 116.53 points, or 0.34%, while the Nifty gained 37.70 points, or 0.35%, during the period.