ROK police arrest ex-underwear boss for alleged business deal with North Korea | NK News
NK News Logo
November 05, 2024
News

ROK police arrest ex-underwear boss for alleged business deal with North Korea

Prosecutors say Kim Seong-tae orchestrated transfer of some $6.4 million to DPRK in exchange for exclusive mining rights

South Korean authorities arrested the former CEO of an underwear company and business conglomerate on Tuesday on allegations that he conducted illegal business dealings with North Korea, after the man spent months overseas on the run.

Kim Seong-tae, the ex-chief of Ssangbangwool, is under investigation for illegal cash transfers to North Korean officials back in 2018, among other charges, the Suwon District Prosecutors' Office told NK News.

Try unlimited access
Only $1 for four weeks

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • Year-one discount if you continue past $1 trial period
  • The NK News Daily Update, an email newsletter to keep you in the loop
  • Searchable archive of all content, photo galleries, special columns
  • Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now

All major cards accepted. No commitments – you can cancel any time.