Local police in Peru have launched an investigation into the kidnapping of a South Korean high school student in Lima.

South Korea’s Embassy in Lima said Friday the police have arrested one person suspected of being part of the group that kidnapped the student identified by the surname Kim.

Local media said Kim’s kidnappers have demanded via the embassy official 500 million Peruvian sol or roughly one-point-nine billion won, as ransom.

The police believe the kidnappers intentionally targeted Kim as his father is the owner of a large business in the South American country.

The embassy said it cannot confirm whether Kim is dead or alive.