So'k-min CH'OE

Korea, North

Foreign Trade Bank of the Democratic People's Republic of Korea representative

1978-07-25

Shenyang, China

Business

Today, OFAC is also designating 26 individuals who are representatives of North Korean banks operating in China, Russia, Libya, and the United Arab Emirates. Ch’oe So’k-min is a Foreign Trade Bank representative in Shenyang, China.  In 2016, Ch’oe So’k-min was the deputy representative at Foreign Trade Bank in Shenyang.  He has been associated with cash transfers from the Foreign Trade Bank office in Shenyang to banks affiliated with North Korean special organizations and Reconnaissance General Bureau operatives located overseas in an effort to evade sanctions.

US

https://home.treasury.gov/news/press-releases/sm0165

2017-09-26

US

Executive Order 13687 of January 2, 2015 Imposing Additional Sanctions With Respect To North Korea

OFAC country specific / UN

Democratic People's Republic of Korea

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/topic/1556 460. Can U.S. persons do business with entities in North Korea? No. Unless authorized pursuant to a general or specific license from OFAC and/or BIS, Executive Order (E.O.) 13722 prohibits new investment in North Korea by a U.S. person and the exportation or reexportation, from the United States, or by a U.S. person, of any goods, services, or technology to North Korea. E.O. 13810 (“Imposing Additional Sanctions with Respect to North Korea”) does not modify any of those prohibitions.

On January 2, 2015, the President issued E.O. 13687 pursuant to, inter alia, IEEPA and the NEA, to take additional steps to address the national emergency declared in E.O. 13466 and expanded in E.O. 13551. E.O. 13687 provides for the blocking of property and interests in property of certain persons with respect to North Korea.

SDN