Kim Jong Un may have earned an enormous $14.4 billion from deploying military forces to the war between Russia and Ukraine, as well as exporting weapons to Russia.
On 17 Mar 2026 GMT+7, Im Suho, a researcher from South Korea's National Security Strategy Institute, revealed a report stating North Korea could have earned up to $14.4 billion USD, approximately 467 billion baht, from sending troops to the war between Russia and Ukraine and exporting arms to Russia.
This report, published on 16 Mar 2026 GMT+7 by Yonhap News Agency, noted that if North Korea receives full payment for troop deployments and arms sales, the impact of sanctions aimed at cutting North Korea's foreign currency income might be significantly weakened.
The report estimates that North Korea has sent troops to fight in the Ukraine conflict at least four times since October 2024, totaling over 20,000 soldiers. Moreover, satellite images show North Korea transported various weapons to Russia between August 2023 and December last year. North Korea is estimated to have earned between $7.67 billion and $14.4 billion from these activities.
Additionally, direct income from troop deployments, such as soldiers' wages and death compensations, is estimated at about $620 million, potentially generating around $560 million per year if the situation continues.
However, the report states that confirmed payments to date amount to only approximately 4–19.6% of the total projected income. Researchers also believe North Korea may receive additional compensation in the form of advanced military technology, high-precision components, and critical materials, which are difficult to detect through public information or satellite imagery.
Source: Yonhap