That is what one academic thinks:

Lee Sung-yoon, principal fellow at the Seoul-based Sejong Institute, whose 2023 book, “The Sister: North Korea’s Kim Yo-jong, the most dangerous woman in the world,” sheds light on the Mount Paektu Bloodline and the dynamics of the brother-sister duo that is Kim Jong-un and Kim Yo-jong, argues the question is a moot one.
“Whether this is a promotion or a demotion, it doesn’t really matter because Kim Yo-jong has been the de facto No. 2 person in the North Korean hierarchy for many years,” Lee said during an interview with The Korea Herald in Seoul on March 18.
In fact, she has been the de facto No. 2 person since 2012, Lee posited. (….)
Kim Yo-jong has issued over 65 formal statements, some of which emphasize that her authority derives from “Comrade Chairman,” her brother Kim Jong-un, the party and the state, according to Lee. Among the statements that she has issued are several that threaten to “nuke” South Korea.
“That kind of unfettered power, access to nuclear weapons by a very powerful woman, among the nine nuclear-weapon-possessing states, we’ve never seen this before. So, I call her the most dangerous woman in the world,” Lee said.
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