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Financial Sanctions: North Korea

Tuesday, 7 July 2015

This news release is issued in respect of the restrictive measures directed against the Democratic People's Republic of Korea.

Annex V to Council Regulation (EC) No 329/2007 have been amended with effect from 3 July 2015, following the publication of Commission Implementing Regulation (EU) No 2015/1062.

Six individuals and one entity have been added to the consolidated list and are now subject to an asset freeze.

ADDITIONS

Individuals

CHOE, Chun-Sik

DOB:  23/12/1963

POB:  Pyongyang, DPRK

Passport Details:  Passport No 745132109.  Valid until 12.2.2020

Address:  Rahlstedter Strasse 83 a, Hamburg, 22149

Other Information:  EU listing.  Not UN.  Authorised plenipotentiary representative of KNIC GmbH, acting on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13257

KANG, Song-Nam

DOB:  05/07/1972

POB:  Pyongyang, DPRK

Address:  Rahlstedter Strasse 83 a, Hamburg, 22149

Other Information:  EU listing.  Not UN.  Authorised plenipotentiary representative of KNIC GmbH, acting on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13256

KIM, Il-Su

DOB:  02/09/1965

POB:  Pyongyang, DPRK

Address:  Rahlstedter Strasse 83 a, Hamburg, 22149

Other Information:  EU listing.  Not UN.  Authorised plenipotentiary representative of KNIC GmbH, acting on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13255

PAK, Chun-San

DOB:  18/12/1953

POB:  Pyongyang, DPRK

Passport Details:  Passport No: PS472220097

Position:  Head of Department of KNIC Headquarters in Pyongyang

Other Information:  EU listing.  Not UN.  Former authorised plenipotentiary representative of KNIC GmbH Hamburg.  Acting on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13259

SIN, Kyu-Nam

DOB:  12/09/1972

POB:  Pyongyang, DPRK

Passport Details:  Passport No: PO472132950

Position:  Head of Department of KNIC Headquarters in Pyongyang

Other Information:  EU listing.  Not UN.  Former authorised plenipotentiary representative of KNIC GmbH Hamburg.  Acting on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13258

SO, Tong Myong

DOB:  10/09/1956

Position:  Managing Director of KNIC GmbH Hamburg

Other Information:  EU listing.  Not UN.  Acts on behalf of KNIC or at its direction.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13260

Entity

KOREA NATIONAL INSURANCE COMPANY (KNIC) GMBH

a.k.a.:  Korea Foreign Insurance Company

Address:  Rahlstedter Strasse 83 a, Hamburg, 22149

Other Information:   EU listing.  Not UN.  KNIC GmbH is a subsidiary controlled by KNIC headquarters in Pyongyang (address Haebangsandong, Central District, Pyongyang, DPRK), a government entity.  It generates substantial foreign exchange revenue which is used to support the regime in North Korea.  The KNIC headquarters Pyongyang is linked to Office 39 of the Korean Worker’s Party.

Listed on:  03/07/2015  Last updated:  03/07/2015

Group ID:  13261

Financial institutions and other persons are requested to check whether they maintain any accounts or otherwise hold funds or economic resources for, or provide financial services to, the designated entity.  If so, they must freeze such accounts or other funds and, unless licensed by the Treasury, refrain from dealing with said funds or economic resources, and suspend the provision of any financial services. They must also report their findings to the Sanctions Officer at the Customs and Excise Division of the Treasury.

Further details of the sanctions regime related to the Democratic People's Republic of Korea and links to the Consolidated List of individuals and entities subject to these and other financial sanctions may be found on the Customs and Excise pages of the Isle of Man Government website.

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