N Korean leader transfers secret fund to son: Report
North Korea`s ailing leader Kim Jong-Il is transferring his secret personal wealth to his youngest son and likely successor, a Seoul-based radio station said on Wednesday.
Seoul: North Korea`s ailing leader Kim
Jong-Il is transferring his secret personal wealth to his
youngest son and likely successor, a Seoul-based radio station
said on Wednesday.
The transfer of money has been managed by Ri Chol,
who stepped down in April as the communist country`s
ambassador to Switzerland, said Open Radio for North Korea,
which specialises in North Korean news.
Ri has been considered one of Kim`s closest aides and
looks after his secret funds abroad, it said. The US-based
Radio Free Asia carried a similar report about the transfer of
Analysts say Kim`s personal funds have been dwindling
because of economic difficulties and tightened international
sanctions on the reclusive communist state.
There have been widespread reports that Kim
Jong-Un, 27, is being groomed to take over from his
68-year-old father, who suffered a stroke in August 2008.
Some analysts say the North is likely to designate
Kim Jong-Un as the leader`s political heir when it convenes a
rare meeting of key communist party delegates in September.
South Korea`s spy chief Won Sei-Hoon said last
month that Kim Jong-Il`s poor health was driving him to speed
up preparations to transfer power to his son, who has been
taking a greater role in policy-making.