March 21, 2023

False alarm on Kim Jong Un’s death shakes South Korea

Stock market and exchange rate temporarily affected by the rumor, but soon stabilized

A false report of North Korean leader Kim Jong Un’s death, originally spread by a satirical website on Thursday, temporary shook South Korea Friday morning.

The rumor impacted South Korea to the point where one of the stocks related to the defense industry skyrocketed by more than 9 percent, and the Korean won fell against the U.S. dollar temporarily.