Concerns Over Potential Violations of North Korea Sanctions in the Private Sector

[Image source=Yonhap News]

[Image source=Yonhap News]

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[Asia Economy New York=Correspondent Baek Jong-min] The U.S. government has urged the global industry not to cooperate in attempts to acquire parts or technology related to North Korea's ballistic missile development.


The U.S. Departments of Treasury, Commerce, and State jointly announced on the 1st (local time) a recommendation urging the private sector to remain vigilant against North Korea's ongoing efforts to obtain missile-related technology and equipment, and to recognize that they could inadvertently violate U.S. and UN sanctions.


In this regard, the recommendation introduced the key procurement entities involved in parts or technology related to North Korea's ballistic missile development and the sanction evasion techniques used. It also listed individuals and organizations in North Korea currently subject to U.S. sanctions.


The recommendation stated that North Korea's continuous efforts to expand its ballistic missile capabilities pose a significant threat, explaining that the U.S. is working internationally to block North Korea's attempts to procure technology for missile development and to hold accountable institutions and individuals supporting North Korea's ballistic missile program.





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