Sanctions imposed by the U.S. Department of the Treasury targeted a company and three individuals involved in illegal financial transfers to North Korea, circumventing existing restrictions. This information was released in an official statement by the department.
The sanctions took effect on July 24. The North Korean company Korea Sobaeksu Trading Company, along with three of its employees – Kim Se Un, Jo Kyong Hun, and Myong Chol Min – were subjected to the restrictions. All were involved in evading sanctions imposed by the U.S. and the UN.
The Department of the Treasury emphasized that these individuals conducted covert financial operations on behalf of the DPRK government, using fraudulent schemes involving IT specialists.
“North Korea actively uses front companies like Korea Sobaeksu Trading Company, as well as key agents, to secure resources for its illicit nuclear and missile activities.”
– Bradley Smith, U.S. Department of the Treasury representative
On the same day, the U.S. Department of Justice filed charges against seven North Korean citizens for attempts to evade sanctions. The State Department also announced rewards ranging from $500,000 to $7 million for information leading to their capture.