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 Treasury Sanctions Company And Individuals Linked To North Korean Weapons Of Mass Destruction Program


WASHINGTON – The U.S. Department of the Treasury today designated two officials from North Korea-based Tanchon Commercial Bank, as well as one entity—Leader (Hong Kong) International Trading Limited—pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction (WMD) and their supporters. 

These designations, along with several designations announced today by the Department of State, are part of the United States' implementation of the new United Nations Security Council resolution (UNSCR) 2087, which condemned North Korea's launch of December 12, 2012, using ballistic missile technology, in direct violation of UNSCRs 1718 and 1874.  Today's actions also support the United States' longstanding objective of impeding North Korea's ability to fund its nuclear and ballistic missile activities. 

"Our actions today target two North Korean entities, Tanchon Commercial Bank and KOMID, that are part of the web of banks, front companies and government agencies that support North Korea's continued proliferation activities," said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. "By continuing to expose these entities, and the individuals who assist them, we degrade North Korea's ability to use the international financial system for its illicit purposes."

Ra Ky'ong-Su, the Tanchon Commerical Bank (TCB) Representative to Beijing and Kim Kwang-Il, the TCB Deputy Representative to Beijing, were designated today for facilitating activity on behalf of TCB.  TCB was designated pursuant to E.O. 13382 in October 2009 because it acts as the financial arm of Korea's Mining Development Trading Corporation (KOMID), Pyongyang's premier arms dealer and main exporter of goods and equipment related to ballistic missiles and conventional weapons, which itself was listed in the annex to E.O. 13382 on June 28, 2005 for its role in North Korea's proliferation of WMD. 

KOMID has offices in multiple countries around the world and aims to facilitate weapons sales.  TCB plays a role in financing KOMID's sales of ballistic missiles and has also been involved in ballistic missile transactions from KOMID to Iran's Shahid Hemmat Industrial Group (SHIG), the U.S. and UN-designated Iranian organization responsible for developing liquid-fueled ballistic missiles.  In addition to their designation under E.O. 13382, both TCB and KOMID were designated by the UNSCR 1718 Committee in April 2009.

Leader (Hong Kong) International Trading Limited was designated today for facilitating the shipment of machinery and equipment to customers on behalf of KOMID and directly to KOMID representatives located outside of North Korea. 

In addition, Treasury's list of Specially Designated Nationals and Blocked Persons (SDN List) was updated today to reflect that KOMID operates under the alias Korea Kumryong Trading Corporation, an entity designated by the UN Security Council pursuant to UNSCR 2087. 

Today's actions generally prohibit transactions between the designees and any U.S. person, and freeze any assets designees may have under U.S. jurisdiction.

Identifying information:

Name:  Ra Ky'ong-Su, Tanchon Commercial Bank Representative to Beijing
Location:  Beijing, People's Republic of China
Nationality:  Democratic Republic of North Korea (DPRK)

Name:  Kim Kwang-Il
Title:  Tanchon Commercial Bank Deputy Representative to Beijing
Location:  Beijing, People's Republic of China
Nationality:  Democratic Republic of North Korea (DPRK)

Name:  Leader (Hong Kong) International Trading Limited
AKA:  Leader International Trading Limited
Location:  Room 1610 Nan Fung Tower, 173 Des Voeux Road, Hong Kong



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