A North Korean official based in Europe who was managing finances for the North's ruling Workers' Party is known to have disappeared last year with a large sum of money.

A source familiar with North Korean affairs said Friday that the official who belonged to the so-called No. 39 office of the Workers' Party vanished late last year from his stationed country in Europe.

The source said he's believed to be carrying billions of won that had been under his management. Currently, the person is known to be under protection in an unidentified European country. The money he took is considered to be political or slush funds of North Korean leader Kim Jong-un.

The North Korean official is known to have worked in the same European country for the past 20 years, managing North Korean assets in the region.

It is believed that the official initially tried to defect to the United States but was not accepted.