North Korea executes official for blunder: Report
Seoul: North Korea has executed a ruling party official blamed for a botched currency reform, in a desperate attempt to quell public unrest and stem negative impact on Pyongyang`s power succession, the latest news report said on Thursday.
The execution by firing squad in Pyongyang last week of Pak Nam-ki, Labour Party chief for planned economy, was for the crime of "a son of a bourgeois conspiring to infiltrate the ranks of revolutionaries to destroy the national economy”, South Korea`s Yonhap news agency said, quoting sources.
But both North Korean officials and even many in the communist country`s public do not believe the explanation that Pak was a conspiring anti-revolutionary, Yonhap quoted sources knowledgeable about the issue as saying.
"The mood is the leadership has made Pak Nam-ki a scapegoat," one source was quoted as saying.
The unrest, triggered by sharp price increases in the marketplace amid confusion caused by the late November currency revaluation, forced the North to take some steps to roll back its effect.
Analysts said that showed the North was under intense pressure to relieve problems that could upset the stability of the leadership. North Korea, poorer since leader Kim Jong-il took power in 1994, is reeling under the loss of international aid and under UN sanctions imposed last year for a nuclear test, and has indicated it might return to the nuclear disarmament talks it has boycotted.
Kim is believed to be in poor health, which means there is a rush to prepare one of his sons for succession, South Korean officials and analysts said.
The last straw for Pak`s fate was the perception the policy blunder was going to affect the succession process, Yonhap said.
South Korea`s defence minister said on Wednesday that Kim was struggling to keep the North under control as he tried to ensure the succession of power to his youngest son. But there is public unrest in the aftermath of the currency measure, which built on prevalent general social discontent.
The UN sanctions were aimed at cutting into the North`s illicit arms trade. They also increased the apprehension of already skittish investors about doing business with the mercurial state.
The North`s abrupt currency move was aimed at cutting into the power of a burgeoning merchant class. But it destabilised the North`s won currency, sparked rare social unrest and slowed the flow of consumer goods from China to a trickle, reports said.
More from India
More from World
More from Sports
More from Entertaiment
- Farmers' woes: Why are farmers forced to sell onions at lower prices?
- Onion farmers' woes: Why are farmers forced to sell onions at lower prices? - Part II
- Onion farmers' woes: Why are farmers forced to sell onions at lower prices? - Part III
- Clash between two football players leaves one dead
- Is the bread you are buying increasing your risk of cancer?
- Spectrum cost very high in India, says Sistema
- LeEco set to boom exciting offers on Flipkart's 'Big Shopping Days' sale
- Goa Board (GBSHSE) SSC (Class 10) Results 2016: Goa 10th SSC result 2016, GBSHSE results 2016, GBSHSE 10th board results to be declared on May 25
- Credit growth unlikely to revive materially in near term: SBI
- Rupee falls for eight straight session, holds at 2-1/2 month low of 67.49