The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Fri, July 1, 2022 | 00:55
N. Korea combines 2 units managing leader's coffers into one
Posted : 2016-09-29 14:35
Updated : 2016-09-29 14:35
Print Preview
Font Size Up
Font Size Down
North Korea is presumed to have combined the ruling party's two units handling its leader Kim Jong-un's governing funds into one, a Seoul government official said Thursday.

North Korea is projected to have kept intact Office 39 of the Workers' Party of Korea (WPK) as the special unit managing state coffers while eliminating Office 38, according to an official at Seoul's unification ministry.

Office 38 is known to raise money within the country to run North Korean leader Kim Jong-un's private coffers while Office 39 is believed to manage hard currency earned from overseas.

"The integration seems to have been made years before North Korea was slapped by the latest U.N. sanctions," said the official, without revealing the specific timing.

Office 39 is also called the leader's "personal safe" for its role in raising and managing secret funds and procuring luxury goods.

Pyongyang has long pressed its diplomats and workers toiling overseas to repatriate earned hard currency to the regime, a move aimed at bankrolling its nuclear and missile programs. (Yonhap)

 
LG
LG
  • Will Japanese PM Kishida accept Yoon's olive branch?
  • Minimum wage for next year increased 5% to 9,620 won
  • Major expressway in Seoul closed off due to heavy downpours
  • Hole-in-one golf insurance policy exploited by fraudsters
  • Heavy downpour hits central regions [PHOTOS]
  • 'Tangible outcome' in arms deal with Poland expected soon
  • Jill Biden advises first lady Kim: "Just be yourself"
  • Samsung chief's daughter to attend Colorado College in fall
  • LG, Hanwha, LS eye EV charging biz for future growth
  • [INTERVIEW] 'New order takes root in fashion e-commerce industry'
  • [INTERVIEW] Park Hae-soo talks about differentiating his character in 'Money Heist' remake [INTERVIEW] Park Hae-soo talks about differentiating his character in 'Money Heist' remake
  • 'Money Heist: Korea' ranks No. 2 on global Netflix chart 'Money Heist: Korea' ranks No. 2 on global Netflix chart
  • [INTERVIEW] Park Chan-wook says 'Decision to Leave' is sexy without sex scenes [INTERVIEW] Park Chan-wook says 'Decision to Leave' is sexy without sex scenes
  • Korean studies struggle to grow despite success of K-pop, K-dramas Korean studies struggle to grow despite success of K-pop, K-dramas
  • Frieze Seoul unveils list of galleries, programs for upcoming inaugural edition Frieze Seoul unveils list of galleries, programs for upcoming inaugural edition
DARKROOM
  • Afghanistan earthquake killed more than 1,000 [PHOTOS]

    Afghanistan earthquake killed more than 1,000 [PHOTOS]

  • Divided America reacts to overturn of Roe vs. Wade

    Divided America reacts to overturn of Roe vs. Wade

  • Namaste: Yogis to celebrate International Yoga Day

    Namaste: Yogis to celebrate International Yoga Day

  • Poor hit harder by economic crisis

    Poor hit harder by economic crisis

  • Roland Garros 2022

    Roland Garros 2022

The Korea Times
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Location
  • Media Kit
  • Contact Us
  • Products & Service
  • Subscribe
  • E-paper
  • Mobile Service
  • RSS Service
  • Content Sales
  • Policy
  • Privacy Statement
  • Terms of Service
  • 고충처리인
  • Youth Protection Policy
  • Code of Ethics
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group