North Korea’s Military Earnings: How Russia’s Deployment Could Bring in $14.4 Billion

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Kim Jong Un greets families of troops deployed to Russia at New Year event(Pyongyang, Korean Central News Agency = Yonhap) Kim Jong Un, chairman of North Korea’s State Affairs Commission, attended a large New Year celebration at Pyongyang’s May Day Stadium with his wife Ri Sol-ju and daughter Ju-ae. KCNA reported on Jan. 1, 2026, that he paid particular attention to families of units dispatched to Russia and offered prayers for the soldiers’ safe return. 2026.1.1
[For Use Only in the Republic of Korea. No Redistribution] nkphoto@yna.co.kr(Pyongyang, Korean Central News Agency = Yonhap) Kim Jong Un, chairman of North Korea’s State Affairs Commission, attended a large New Year celebration at Pyongyang’s May Day Stadium with his wife Ri Sol-ju and daughter Ju-ae. KCNA reported on Jan. 1, 2026, that he paid particular attention to families of units dispatched to Russia and offered prayers for the soldiers’ safe return. 2026.1.1
[For Use Only in the Republic of Korea. No Redistribution] nkphoto@yna.co.kr

Analysts estimate North Korea may have earned as much as $14.4 billion from deploying troops to the war in Ukraine and exporting military materiel to Russia — roughly 21.5 trillion KRW.

Im Su-ho, a senior research fellow at the Institute for National Security Strategy (INSS), said in a report released on the 13th, titled \”The Economic Effects of North Korea’s Deployment to Russia and Exports of Military Goods,\” that if Pyongyang collects all payments for deployments and weapons sales, the sanctions’ main economic effect — reduced foreign-currency inflows — could be nullified.

Im estimated that from August 2023, when the deployments and exports began, through December of last year, North Korea’s foreign-currency earnings likely ranged between $7.67 billion and $14.4 billion.

He put direct revenue from the deployments — including soldiers’ pay and death benefits — at about $620 million (approximately 928.5 billion KRW).

If current conditions continue, he projected deployments alone could generate about $560 million per year (roughly 838.8 billion KRW).

However, Im noted that confirmed payments account for only about 4% to 19.6% of the estimated total.

He said those confirmed payments are limited to tangible items that can be observed by eye or satellite. He warned that much of the compensation for deployments and weapons sales likely came, or will come, in forms that are difficult to detect from space — sensitive military technology, precision components, and related materials.

#NorthKorea #Russia #TroopDeployment

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Park Su-ju (sooju@yna.co.kr)