Kim Gun, "North Korea Stole 830 Billion Won in Cryptocurrency in March"

Congratulatory Address at the 2nd ROK-US Working Group Meeting on North Korean Cyber Threat Response
Reference to Suspected North Korean Ransomware Attacks and Hacking Cases

[Asia Economy Reporter Yoo In-ho] Kim Gun, Head of the Ministry of Foreign Affairs' Korea Peace Negotiation Headquarters, stated on the 17th, "At the root of the North Korean nuclear threat lies the issue of cryptocurrency theft," and added, "We must come up with measures to eradicate North Korea's illegal cyber activities."

Kim delivered this remark in a congratulatory speech at the 'South Korea-US Joint Public-Private Symposium on Responding to North Korean Cryptocurrency Theft' held at the Four Seasons Hotel in Gwanghwamun, Seoul, on the morning of the same day. He said, "North Korea secures massive amounts of provocation funds every year through malicious cyber activities."

Kim mentioned various ransomware attacks and hacking cases worldwide that are presumed to have been carried out by North Korea.

He said, "In March, North Korea hacked a game company called 'Axie Infinity' and stole cryptocurrency worth $620 million (830 billion KRW). It is estimated that North Korea spent between $400 million and $650 million on launching 31 ballistic missiles in the first half of this year." This means that North Korea earned the entire cost of ballistic missile launches in the first half of the year from just one hacking incident in March.

Kim said, "Many experts suggest that Southeast Asian countries, where the cryptocurrency market is rapidly growing, are likely targets of North Korean hacking attacks," and added, "More countries need to pay attention to North Korea's cyber threats."

Kim added, "Through today's discussion, we must accurately grasp the reality of North Korea's illegal cyber activities," and "We must make North Korea realize that attempts to threaten the world through illegal means can never succeed."

Lee Tae-woo, Director of the North Korean Nuclear Diplomacy Planning Division at the Ministry of Foreign Affairs, also said in his welcoming remarks, "North Korea's illegal cyber activities should not be perceived simply as financial crimes in cyberspace," and "Responding to North Korea's cyber threats is also a matter concerning international peace and stability."

John Park, U.S. Department of State Deputy Special Representative for North Korea, said in his welcoming remarks, "North Korea is one of the most notorious countries actively stealing money from other countries, companies, and individuals," and added, "When we strengthen our defenses, we can not only protect ourselves but also prevent North Korea from using illegal funds for its weapons development programs."

Meanwhile, Kim met with reporters at the event and commented on the statement released by North Korean Foreign Minister Choe Son-hui that "The more military activities are intensified on the Korean Peninsula and in the region, the fiercer our military response will be," saying, "If North Korea is truly serious, the solution is to come to the dialogue table we propose."

Kim urged, "We are promoting dialogue with a flexible and open stance and have also created the bold initiative, a roadmap for denuclearization," and called for "a prompt response to the bold initiative."

This content was produced with the assistance of AI translation services.