Pyongyang–North Korean’s state media reported that leader Kim Jong-Il died Saturday of a heart attack while on a train. Mr. Kim’s death came suddenly.
Mr. Kim was born in 1941 or 1942 and has ruled the reclusive country since 1994, when his father, King Il-sung, died at the age of 82.
The new leader of North Korea will be Kim Jong Il’s third son, Kim Jong Eun, who is 27 or 28 years old. He will be the third generation of leaders from the Kim family.
Asia stock markets tanked on the news, because of the possibility for instability in the country during the transition of power. The death of the North Korean leader will also put on hold talks between the U.S., North Korea and South Korea.