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2009/12/23 22:14 KST
Kim Jong-il's son behind North Korea's currency reform: report

SEOUL, Dec. 23 (Yonhap) -- Kim Jong-un, the third and youngest son of North Korean leader Kim Jong-il, led the currency reform of Nov. 30, a South Korean radio station covering North Korean affairs reported Wednesday.

   The currency reform was suggested by a team under Kim Jong-un and the senior Kim approved the suggestion, the Open Radio for North Korea reported quoting an "internal source" in North Korea.

   The radio said Kim Jong-un's team judged that North Korea's economic measure on July 1, 2002 was not proper to be applied for the "Kim Jong-un era" and asserted that the junior Kim, dubbed as the heir to his father, forced the measure to collect cash circulated in the private sector.

   The currency reform was designed to create a basis for reform and openness under Kim Jong-un by raising the value of the North Korean currency and countering inflation, the report said.