Thursday, November 18, 2010

Treasury Hot on the Trail of "Office 39"

The Treasury Department today designated Korea Daesong Bank and Korea Daesong General Trading Corporation for being owned or controlled by Office 39 of the Korean Workers’ Party.

Office 39 is a secretive branch of the government of the Democratic People’s Republic of Korea (North Korea) that, according to the Treasury, provides critical support to North Korean leadership in part through engaging in illicit economic activities and managing slush funds and generating revenues for the leadership.

As a result of today’s action, any assets of the designated entities that are within U.S. jurisdiction are frozen and U.S. persons are prohibited from conducting financial or commercial transactions with these entities.

1 comment:

  1. The US government sends aid, financial and otherwise, to North Korea all the time. Hell, the Bush administration was in negotiations to give them nuclear reactors.

    But it's a crime punishable with death, if necessary, if a mere mortal US citizen should dare to try his hand at the same kind of wheelin' and dealin'.