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



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 Ifang Bremer \| Yeji Chung January 17, 2023 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Money exchanging hands in front of a North Korean flag \| Image: NK News 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. The businessman fled to Singapore last May as South Korean authorities closed in. But Thai police apprehended Kim at a golf club near Pathum Thani, north of Bangkok, on charges of overstaying his © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. Get the Daily Update & Podcast Updates Start your day with the North Korea stories that matter most – as selected by Trending

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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

Ifang Bremer | Yeji Chung January 17, 2023

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

Money exchanging hands in front of a North Korean flag | Image: NK News

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.

The businessman fled to Singapore last May as South Korean authorities closed in. But Thai police apprehended Kim at a golf club near Pathum Thani, north of Bangkok, on charges of overstaying his

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Ifang Bremer

Ifang Bremer is a former Seoul Correspondent at NK News. He has worked on investigations for The Guardian and The Observer and previously wrote features on Korea for Dutch newspaper NRC.

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Yeji Chung

Yeji Chung is a research intern at the Center for Strategic and International Studies and a former news trainee at NK News. She graduated from George Washington University with a bachelor's degree in political science and government.

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