North Korea’s March 2026 constitutional amendments, made public in early May, removed all references to unification and redefined its territory as bordering China, Russia, and the Republic of Korea, formalizing the “two hostile states” framework first declared in late 2023. These changes signal Pyongyang’s policy of assurance against initiating hostilities and its shift toward securing recognition as a nuclear power through northern diplomacy with Russia and China. Routine missile launches, artillery upgrades targeting Seoul, and border fortification continue without accompanying troop mobilization or invasion indicators. South Korea’s government under President Lee Jae Myung has responded with engagement overtures focused on peaceful coexistence. Traders price the “no” outcome at 93.5 percent because these developments indicate North Korea prioritizes deterrence, sanctions relief, and external alliances over large-scale offensive action through 2026.