A top official responsible for managing funds for North Korea's military modernization has reportedly fled after embezzling approximately $30 million (about 41.5 billion KRW) last month. This amount represents 30% of a $100 million slush fund created by Kim Jong Un, for the modernization of weapons. Speculations have arisen that the official might have entered South Korea recently, as nations like the U.S. and Europe do not acknowledge illicit funds from hostile states.
An informed source said, "The official, acting under Kim Jong-un's orders, was in charge of smuggling military supplies like precision machine tools from China. The embezzlement has likely caused significant internal unrest, especially as it occurred while preparing to supply weapons to Russia." However, it remains unclear whether the money was taken in cash or transferred through bank accounts. Given the large sum, there might have been a Chinese accomplice aiding the escape. The only comparable incident occurred in July 2016 when a major from the North Korean People’s Armed Forces defected with approximately 45 billion KRW along with two family members.
The fleeing official was part of North Korea's Security Bureau, one of the three major intelligence and surveillance agencies alongside the State Security Department and the Ministry of Social Security. This agency is responsible for political surveillance within the military. Given its significant power, the official likely faced threats of assassination from Pyongyang. There is speculation that he might have sought asylum in South Korea or another third country to ensure his safety.
Nam Sung Wook, head of the Unification Integration Research Institute at Korea University (and former head of the National Security Strategy Institute), commented, "The official likely fled to avoid retribution from Pyongyang due to the embezzlement. For high-ranking North Koreans, fleeing to South Korea with a large sum of money would invite assassination threats from Pyongyang, making it plausible that he sought safety in the U.S. or another third country."
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