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North Korea's penalty for bungling finance policy: death
18 Mar 2010North Korea has executed a senior official for bungling a currency reform, it was reported today.
Finance and planning chief Pak Nam-gi managed a redenomination of the currency in November — reducing the face value of banknotes — in a bid to control inflation. But it led to a food shortage and left people with piles of worthless bills.
The North Korean government said he damaged public opinion and affected leader Kim Jong Il's plan to hand power over to his youngest son, South Korea's Yonhap news agency reported.
Pak was sacked and was executed by firing squad in Pyongyang.
Reader views (2)
A bit harsh me thinks, surely withholding his bonus would have sufficed?
- Frank, Home Counties, England., 18/03/2010 15:27
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Pity we can't do the same here with our useless government officials!
- Stuart, London, 18/03/2010 11:48
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