North Korea is suspected to have earned billions of dollars from Russia as compensation for troop deployments and arms exports supporting Moscow’s war in Ukraine, according to a report released Wednesday.
South Korea's Institute for National Security Strategy estimated that Pyongyang generated between $7.67 billion and $14.4 billion from such activities between August 2023 and December 2025.
According to Seoul's intelligence authorities, the North has deployed troops to Russia since October 2024. Large-scale deployments took place in four phases — in January, August, and from September to December 2025. Arms exports have also accelerated since July 2023.
However, the actual compensation secured by North Korea in cash appears to be limited.
The report said only 4 to 19.6 percent of the estimated earnings have been confirmed as received so far, citing the Friedrich Naumann Foundation. The remaining 80 to 96 percent may have been provided, or will be provided, in less visible forms such as military technology, precision components and materials, it added.
The report warned that such arrangements could undermine the effectiveness of sanctions imposed on North Korea.
“If North Korea ultimately secures full compensation for its troop deployments and arms exports, the core economic effect of sanctions — reducing its foreign currency earnings — would be effectively nullified,” the report said.
flylikekite@heraldcorp.com
