North Korea’s recent constitutional amendments, finalized following the February 2026 Workers’ Party Congress and publicly detailed in early May, represent the primary driver behind traders’ 93.5 percent implied probability that no invasion of South Korea will occur before 2027. These changes eliminate all references to reunification, explicitly define the country’s southern border with the Republic of Korea as that of a separate state, and formalize Kim Jong Un’s sole command authority over nuclear forces. The revisions signal Pyongyang’s shift to a “hostile two-state” doctrine focused on deterrence and northern partnerships, particularly expanded military cooperation with Russia, rather than large-scale offensive operations. South Korea’s ongoing pursuit of peaceful coexistence under the Lee Jae Myung administration has elicited no corresponding North Korean mobilization or border buildup indicative of imminent attack. This combination of doctrinal clarity and absence of escalatory signals underpins the current market consensus on sustained stability through the resolution window.