This research is based on the assumption that application of a study of an African country which has similar socio-economic nature to that of North Korea, as a fragile state, has significance for the analysis of North Korean economy. In this context, this article describes economic crisis in the Republic of Zimbabwe which began in the second half of 2018. The socio-economic conditions of Zimbabwe and North Korea have similarities in terms of economic size and industrial structure. The two fragile states, which have all recorded current account deficits in recent years, face restraints in ensuring foreign currency mainly due to the economic sanctions imposed by the United States as well as United Nations. Against this background, the crisis in Zimbabwe begun from the second half of 2018 demonstrated the formation of a vicious circle composed of the elements such as political upheaval, inflation, distortion in foreign currency market, public health crises and the collapse of infrastructure. Given the accumulated structural distortion in North Korean economy similar to those of Zimbabwe, the Covid-19 pandemic poses a probability of formation and occurrence of a socio -economic vicious circle, which appeared in Zimbabwe, in North Korea.