Report: Kim Jong-un’s illicit funds short on foreign exchange

(From UPI)

By Elizabeth Shim

North Korea‘s economic difficulties are mounting in the face of prolonged sanctions and Kim Jong Un may be feeling the pinch in his personal slush fund.

North Korean entities under international and U.S. sanctions, including Room 39, a branch of the North Korean regime that handles the country’s illicit financial activities, may be struggling with a foreign exchange shortage, South Korean news service Daily NK reported.

Money managed by Room 39 is spent under Kim Jong Un’s direct supervision and the cash is routed to the top of the North Korean leadership. The foreign currency originates from North Korean earnings at overseas missions but reserves are falling, according to the report.

There are also signs the domestic economy is in bad condition. Read more

North Korea’s Kim Jong Un could be grappling with a foreign exchange shortage, according to a South Korean press report. File Photo by KCNA

North Korea’s Kim Jong Un could be grappling with a foreign exchange shortage, according to a South Korean press report. File Photo by KCNA



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