July 29, 2019: OFAC adds to North Korean sanctions

On Monday, OFAC added:

KIM, Su Il, Ho Chi Minh City, Vietnam; DOB 04 Mar 1985; Gender Male; Secondary sanctions risk: North Korea Sanctions Regulations, sections 510.201 and 510.210; Passport 108220348 (Korea, North) expires 18 May 2023; alt. Passport 745220480 (Korea, North) expires 02 Jun 2020; Munitions Industry Department Representative in Vietnam (individual) [DPRK2].

to their North Korean sanctions program.

And Treasury issued the following press release:

Treasury Designates a Vietnam-Based Representative of a WMD Entity

Sanctions designations enforcing United Nations and U.S. sanctions

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a North Korean individual operating from Vietnam, Kim Su Il, for his ties to the Workers’ Party of Korea (WPK).  Kim Su Il is also an employee of the Munitions Industry Department (MID); a WPK subordinate that is United Nations (UN)- and U.S.-designated for its involvement in key aspects of North Korea’s missile program, which is subject to a range of U.S. sanctions restrictions.  This action reflects continued enforcement of UN and U.S. sanctions. 

“Treasury continues to enforce existing sanctions against those who violate United Nations Security Council resolutions (UNSCRs) and evade U.S. sanctions on North Korea’s unlawful nuclear and ballistic missile programs,” said Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence.  “Kim Su Il has violated UNSCRs and supports North Korea’s weapons program.”

OFAC designated Kim Su Il, a trading company official who works on behalf of the MID in Vietnam, pursuant to E.O. 13687 for being an official of the WPK.  As of early 2019, Kim Su Il was responsible for exporting anthracite coal, titanium ore concentrate, and other North Korean domestic products; importing and exporting various other goods, including raw materials, to and from North Korea; and ship chartering.  This trade activity earned foreign currency for the North Korean regime.  Kim Su Il is also responsible for exporting Vietnamese products to China, North Korea, and other countries.  Kim Su Il was assigned to Ho Chi Minh City, Vietnam in 2016 to perform economic, trading, mining, and shipping activities associated with the MID’s business activities.

As a result of today’s action, all property and interests in property of this individual that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC.  OFAC’s regulations generally prohibit all dealings by U.S. persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked or designated persons.

In addition, persons that engage in certain transactions with the person designated today may themselves be exposed to designation.  Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the individuals designated today could be subject to U.S. correspondent account or payable-through sanctions.

Links:

OFAC Notice

Treasury Press Release

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