Kim Jong Un's hard currency expected to run dry by October, South Korean lawmaker says

Kim Jong Un’s cash flow is expected to run dry by October if international sanctions continue crippling his regime’s economy, a South Korean lawmaker said Wednesday, following months of rumors about North Korea’s financial woes.

Kang Seok-ho, of the Liberty Korea Party, said during a meeting his assessment on North Korea’s economy came from discussions with intelligence authorities, Yonhap News Agency reported. He also indicated Kim’s attempt to extend an “olive branch” during the Pyeongchang Winter Olympics was the despot scrambling to keep his regime afloat.

North Korean leader Kim Jong Un reacts as people applaud during his visit to the newly-remodeled Pyongyang Teacher Training College, in this photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang on January 17, 2018.   KCNA/via REUTERS   ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS IMAGE. NO THIRD PARTY SALES. SOUTH KOREA OUT. - RC1CB9E458E0

Kim Jong Un's hard currency reserve is expected to run out by October, a South Korean lawmaker said.  (Reuters)

"I received an analysis that, if international sanctions against the North continue like this, all of North Korea's foreign currency earnings and overseas assets will be frozen, and its dollar [reserves] will dry up around October," Kang said. "At a time like this, our government should further strengthen cooperation with the international community on sanctions against the North."

KIM JONG UN'S SLUSH FUND RUNNING OUT OF FUEL AFTER NUMEROUS MISSILE, NUCLEAR TESTS, REPORT SAYS

Kang suggested South Korea should send a special envoy to Pyongyang to push for resumed talks between North Korea and the United States. Kim Jong Un’s sister, Kim Yo Jong, extended an invitation to South Korean President Moon Jae-in to visit the North during her time at the Olympics.

Moon responded: “Let’s create the conditions to make it possible.”

Rumors about Kim’s struggle to keep the North’s economy afloat began earlier this year after he delivered his New Year’s address by saying he was willing to send a delegation to the Winter Olympics. He also accepted South Korea’s proposal for talks.

Two Chinese sources with ties to top North Korean government officials said in late January that Kim has nearly exhausted his slush fund because of his desire to conduct missile and nuclear tests, Radio Free Asia reported. When it’s not  his weapons, Kim is funding vanity projects such as the highly-promoted Masikryong Ski Resort.

“Due to Kim Jong Un’s extravagant spending, the slush fund from his father, Kim Jong Il, is running out,” one of the sources told the news agency. “It won’t be easy to control North Korea’s high-level executives, who are [cunning] like raccoons.”

Intercontinental ballistic missiles are seen at a grand military parade celebrating the 70th founding anniversary of the Korean People's Army at the Kim Il Sung Square in Pyongyang, in this photo released by North Korea's Korean Central News Agency (KCNA) February 9, 2018. KCNA/via REUTERS  ATTENTION EDITORS - THIS PICTURE WAS PROVIDED BY A THIRD PARTY. REUTERS IS UNABLE TO INDEPENDENTLY VERIFY THE AUTHENTICITY, CONTENT, LOCATION OR DATE OF THIS IMAGE. NO THIRD PARTY SALES. NOT FOR USE BY REUTERS THIRD PARTY DISTRIBUTORS. SOUTH KOREA OUT     TPX IMAGES OF THE DAY - RC19096FDE60

Kim Jong Un often boasts about North Korea's nuclear weapons and missiles.  (Reuters via KCNA)

Around 100,000 North Koreans working abroad also send back around $500 million in earnings annually, Radio Free Asia reported, citing a U.N. estimate.

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“I heard them worrying about insufficient funds in Office No. 39 a number of times,” the source added, noting four of the six nuclear tests carried out by North Korea have been done under Kim’s watch. The dictator, infamously dubbed “little rocket man” by President Trump, has also overseen 20 missile tests.

Kim Yo Jong embraced “smile diplomacy” during her three-day visit to South Korea, charming the press and pushing for “unification” -- which to her meant her brother’s regime ruling the entire Korean peninsula.

Fox News’ Greg Norman contributed to this report. 

Katherine Lam is a breaking and trending news digital producer for Fox News. Follow her on Twitter at @bykatherinelam