A total of £160,507 was spent on accommodation, transport and food for the four delegates from the hermit state and their 18 staff members.
The extortionate figure was reportedly confirmed by an anonymous official at South Korea’s Ministry of Unification.
A large portion of the money, £75,000, was splashed out on accommodation at a five-star riverside hotel, called the Walkerhill Hotel, in eastern Seoul.
Kim Jong-un’s younger sister Kim Yo-jong was sent to the South to represent Pyongyang at the international winter games.
The 30-year-old set the stage for the first meeting of Korean leaders in more than a decade when she shook hands with Mr Moon at the presidential Blue House in Seoul.
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Kim Yo-jong is widely regarded as one of her brother’s top confidantes and senior officials in the North Korean Government and South Korea will have been keen to make a good impression on their visiting neighbours.
The South Korean insider is reported to have also confirmed a further £1.9million was spent to host 418 North Korean delegates who did not compete in the Winter Olympics.
The delegation was made up of 229 cheerleaders and a 137-strong orchestra.
In comparison to the astonishing amount spent on the top officials from the dictatorship, the International Olympic Committee paid approximately just £36,000 on the training and preparation of the country’s 22 athletes.
The South Korean government invited their neighbours to the Games in a bid to reduce tensions after a year of soaring war fears and numerous missile tests by North Korea.
South Korea also paid the expenses of more than 600 North Koreans who visited the South during the 2002 Asian Games in Busan.
Seoul’s President Moon Jae-in is also welcome a North Korean delegation to the closing ceremony of the winter games.
Kim Yong-chol, the Head of the Ruling Party’s United Front Department and former Chief of North Korea’s Reconnaissance Bureau, are both due to be a part of the three-day trip.
Ri Son-gwon, the Head of the North’s agency in charge of inter-Korean affairs, is also expected to be part of the eight strong team.
Seoul’s Unification Ministry said in a statement: “The government thinks the delegation’s dispatch will help improve inter-Korean relations and bring peace to the Korean Peninsula, including the North’s denuclearisation.
“In that sense, Seoul will accept their visit.”