South Korean currency tumbles as unconfirmed report indicates that North Korea’s Kim Jong Un is seriously ill

FAN Editor

Kim Jong Un, North Korea’s leader, attends a welcoming ceremony at the Presidential Palace in Hanoi, Vietnam, on Friday, March 1, 2019.

Kham/Pool | Bloomberg | Getty Images

The Korean won weakened sharply on Tuesday against the dollar on unconfirmed reports that North Korean leader Kim Jong Un is seriously ill.

As of 0239 GMT Tuesday, the Korean won fell 1.54% to trade at 1,239.35 per dollar.

The South Korean markets also saw sizable declines, with the Kospi down 2.62% while the Kosdaq index fell 3.47%. Shares of defense firm Victek skyrocketed 29.66% while North Korea exposed stocks Hanil Hyundai Cement and Hyundai Elevator plummeted more than 6% each.

The moves came after CNN reported Tuesday, citing an unnamed U.S. official with direct knowledge, that Washington is “monitoring intelligence” that Kim is in “grave danger after a surgery.”

The North Korean leader was reportedly absent during a celebration of his grandfather’s birthday on April 15, raising questions over his health. CNN reported that he had been seen four days to prior to that, at a government meeting.

This is developing news. Please check back for updates.

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