Saemul 1-Dong Pyongchon District, Pyongyang, Korea, North

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. 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.

https://home.treasury.gov/news/press-releases/tg1828

2005-06-29

US

Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. part 544

OFAC-horizontal

Non-Proliferation

Blocking Property

On April 13, 2009, OFAC issued the Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 CFR part 544 (74 FR 16771, April 13, 2009) (the “Regulations”), to implement Executive Order (E.O.) 13382 of June 28, 2005, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters” (70 FR 38567, July 1, 2005)

SDN