Reuters first with news of North Korean leader’s succession plan

When North Korea’s iron ruler, Kim Jong-il, anointed his youngest son as his successor as leader of the isolated state on Sept 28, Reuters was the first international media organization to break the news, beating Bloomberg by nearly an hour. Mentioning the son, Kim Jong-un, for the first time, North Korea’s state media said that he had been named an army general. A day later, the son was elevated to a senior position within the ruling party, further confirmation that he was the next leader in waiting, and again Reuters was quicker with the announcement than Bloomberg, this time by five minutes. So little is known of the political maneuverings inside the reclusive North that, although Kim Jong-un’s rise had been widely expected, investors in the region were waiting nervously. Kim Jong-un’s rise signaled a continuation of the current system and relative stability, even though the economy is in ruins and the internationally ostracized government is trying to build a nuclear arsenal. The biggest fear for investors is that the country could collapse, triggering a flood of refugees or even fighting on the divided Korean peninsula, impacting the broader region which accounts for about 20 percent of global economic output.