It was reported that a high-ranking North Korean military official, responsible for managing funds for the country’s “weapons modernization” project, embezzled $30 million and fled last month. This amount reportedly constitutes 30% of the $100 million slush fund allocated by North Korean leader Kim Jong-un for the modernization project.
According to South Korean media outlet Money Today on July 10, sources familiar with North Korean affairs reported that the official associated with the North Korean Military Security Command absconded from Beijing around June 11, taking embezzled funds with him.
The official was tasked with acquiring Computer Numerical Control (CNC) machinery and other equipment from China for the modernization project. Due to the nature of his duties, the individual was considered a key figure within Kim Jong-un’s regime.
A source told Money Today that “This official, under direct orders from Kim Jong-un, was responsible for smuggling precision machinery and military supplies from China. The embezzlement has caused significant internal turmoil, especially since these funds were intended for the weapon supply chain to Russia.”
Details remain unclear regarding whether the funds were embezzled in cash or transferred through bank accounts. Given the substantial amount, it’s suspected that the official may have had accomplices within China.
Historically, there have been few instances of such large-scale theft, the most notable being in July 2016 when a general from the North Korean Ministry of People’s Armed Forces defected with approximately $40 million and two family members.
The Military Security Command, to which the fleeing official belonged, is one of North Korea’s three primary intelligence and surveillance agencies, alongside the Ministry of State Security and the Ministry of Social Security. Known for its political oversight of the military, the Command is a significant power entity in North Korea, and the official likely faced death threats from Pyongyang. There are speculations that he may have sought asylum in South Korea or a third country for safety, Money Today reported.
The National Intelligence Service (NIS) of South Korea told the media outlet, “We cannot confirm individual intelligence matters.”
Nam Sung-wook, head of the Korea University Institute for Unification Studies and former president of the Institute for National Security Strategy, told the publication, “The official probably fled to avoid repercussions from Pyongyang for the embezzlement. High-ranking North Korean officials carrying large sums might seek asylum in countries like the U.S. to ensure their safety from assassination threats from Pyongyang.”
BY YOUNGNAM KIM [kim.youngnam@koreadaily.com]
