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Financial Sanctions: Democratic People’s Republic of Korea (North Korea)

Friday, 1 June 2018

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

Council Regulation (EU) 2017/1509 has been amended following the publication in the Official Journal of the European Union of Council Implementing Regulation (EU) No 2018/714 (“the Amending Regulation”).

The Amending Regulation amended Annex XV and XV to Council Regulation (EU) 2017/1509 with effect from 16 May 2018.

Five entries have been amended and are still subject to an asset freeze and one entry has been added, after previously being delisted by Regulation 2018/285

ADDITION

Individual

CHOE, CHUN-SIK

DOB: 23/12/1963.

POB: Pyongyang, DPRK

a.k.a: CHOE, Chun, Sik

Passport Details: Passport No 745132109. Valid until 12.2.2020

Position: Director in the reinsurance department of Korea National Insurance Corporation (KNIC) Headquarters in Pyongyang

Other Information: Annex XVI EU Listing not UN .Continues to act for or on behalf of KNIC or at its direction. Originally listed 03/07/2015; delisted 28/02/2018; now re-listed.

Listed on: 16/05/2018 Last Updated: 16/05/2018 Group ID: 13257

AMENDMENTS

Individuals

Deleted information is in square brackets. Updated information is in italics.

KIM, Il-Su

DOB: 02/09/1965.

POB: Pyongyang, DPRK

a.k.a: KIM, Il, Su

Position: Manager in the reinsurance department of Korea National Insurance Corporation (KNIC) Headquarters in Pyongyang

Other Information: [Annex XV] Annex XVI EU Listing not UN. Former authorised chief representative of KNIC in Hamburg GmbH, acting on behalf of KNIC or at its direction.

Listed on: 03/07/2015 Last Updated: [15/09/2017] 16/05/2018 Group ID: 13255.

KANG, Song-Sam

DOB: 05/07/1972.

POB: Pyongyang, DPRK

a.k.a: KANG, Song, Sam

Other Information: [Annex XV] Annex XVI EU Listing not UN. Former authorised representative of KNIC,Continues to act for or on behalf of KNIC or at its direction.

Listed on: 03/07/2015 Last Updated: [15/09/2017] 16/05/2018 Group ID: 13256.

SIN, KYU-NAM

DOB: 12/09/1972.

POB: Pyongyang, DPRK

a.k.a: SIN, Kyu, Nam

Passport Details: Passport No: PO472132950

Position: Director in the reinsurance department of Korea National Insurance Corporation (KNIC) Headquarters in Pyongyang

Other Information: [Annex XV] Annex XVI EU listing. Not UN. Former authorised representative of KNIC in Hamburg. Continues to act for or on behalf of KNIC or at its direction.

Listed on: 03/07/2015 Last Updated: [15/09/2017] 16/05/2018 Group ID: 13258.

PAK, CHUN-SAN

DOB: 18/12/1953.

POB: Pyongyang, DPRK

a.k.a: PAK, Chun, San

Passport Details: Passport No: PS472220097

Position: Director in the reinsurance department of Korea National Insurance Corporation (KNIC) Headquarters in Pyongyang at least until December 2015

Other Information: [Annex XV] Annex XVI  EU listing. Not UN. Former authorised Chief representative of KNIC in Hamburg. Continues to act for or on behalf of KNIC or at its direction.

Listed on: 03/07/2015 Last Updated: [15/09/2017]16/05/2018 Group ID: 13259.

SO, Tong Myong

DOB: 10/09/1956.

Position: President of Korea National Insurance Corporation (KNIC)

Other Information: [Annex XV] Annex XVI EU listing. Not UN. KNIC Executive Management Committee Chairman (June 2012), KNIC General Manager (September 2013). Acting on behalf of KNIC or at its direction.

Listed on: 03/07/2015 Last Updated: [15/09/2017] 16/05/2018 Group ID: 13260.

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 individuals. 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 FIU.

Failure to comply with financial sanctions legislation or to seek to circumvent its provisions is a criminal offence.

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.

Issued By

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