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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Report: NKorea to replace top diplomat in Geneva By HYUNGJIN KIM,Associated Press Writer - 1 hour 48 minutes ago Send IM Story Print SEOUL, South Korea – North Korea plans to replace its top diplomat in Switzerland who is believed to be a key manager of leader Kim Jong Il's alleged secret funds stashed overseas, a news report said Wednesday. Ri Tcheul, North Korea's ambassador to U.N. agencies in Geneva, is to step down as early as late this month following about 30 years of service in Switzerland, South Korea's Yonhap news agency reported, citing an unidentified diplomat in Bern. The 75-year-old Ri is one of Kim's closest associates, believed to have managed the leader's illicit money in secret bank accounts in Switzerland, the report said. There was no word on who will succeed him, Yonhap said. South Korea's Foreign Ministry and the National Intelligence Service _ the country's main spy agency _ said they could not confirm the report. Kim is believed to have stashed away billions of dollars in Switzerland, Hong Kong, Singapore and other countries to finance the North's weapons programs, buy lavish gifts for his top deputies to obtain their loyalty and maintain his luxurious lifestyle, according to South Korean media reports and experts. Yonhap said it is not clear why the North has decided to replace the diplomat, but overexposure may have made it difficult for him to maneuver, according to Seoul-based analyst Yang Moo-jin, a professor at the University of North Korean Studies in Seoul. "Ri Tcheul has been exposed too much" as the manager of the secret funds, Yang said. U.N. Security Council sanctions were tightened against North Korea after its May 2009 nuclear test. The order bans North Korea from exporting arms, calls for freezing assets, and forbids travel abroad for certain companies and individuals involved in the country's nuclear and weapons programs. The U.N. has also placed trade, travel and other sanctions, including the sale of luxury items, on North Korea. South Korean media reported last month that Kim had fired the director of his secret moneymaking "Room 39" bureau believed to use business ventures to provide funds for Kim, his family and senior officials. It was unclear which Room 39-affilated companies or officials might be under U.N. sanctions, but North Korean firms frequently change names to evade scrutiny. Kim Dong Un, the Room 39 chief who was reportedly fired, had been blacklisted by the European Union in December, making his movements in Europe difficult and prompting the change in personnel, Yonhap said last month. Wednesday's report came as the North escalated its rhetoric against the U.S. and South Korea over their ongoing military drills that Pyongyang has long slammed as a rehearsal for attack. "Aggressors and traitors keen to bring a war to the inviolable territory of the country, indifferent to the destiny of the nation, will not be able to escape a merciless punishment," the North's main Rodong Sinmun newspaper said in a commentary Wednesday. The U.S. and South Korea have said the exercises _ which began Monday for an 11-day run _ are purely defensive and they have no intention of invading the North. 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