Gustav Graves is really the North Korean colonel who supposedly died at the beginning and he has developed Icarus to destroy the demilitarized zone so that North Korea can take over South Korea. Bond learns that Miranda Frost is a double agent working with Graves. Bond never revealed any information during that heavy duty torture we see at the beginning of the movie. Bond kills Graves, while Jinx (Halle Berry) kills Frost. Of course, Bond and Jinx end up together.
Plot hole: In the pre title sequence James Bond travels in a hovercraft along the dirt road which is full of land mines. Soon after reaching the waterfall at the end, trucks drive up along the road he just drove in on to capture him. As there was only one road in to the waterfall complex the landmines must have all disappeared, as earlier on in that sequence we are informed that the only way that the North Koreans can avoid the mines along that road is by hovercraft. (00:12:05)
Miranda Frost: He'll light the fuse on any explosive situation, and be a danger to himself and others.
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