Note: The following text is a quote:
http://www.treas.gov/press/releases/tg191.htm
June 30, 2009
TG-191
Treasury Targets North Korea’s Missile Proliferation Network
The U.S. Department of the Treasury today targeted North Korea’s missile proliferation network by designating Hong Kong Electronics under Executive Order 13382. E.O. 13382 freezes the assets of designated proliferators of weapons of mass destruction and their supporters and prohibits U.S. persons from engaging in any transactions with them, thereby isolating them from the U.S. financial and commercial systems. Hong Kong Electronics, located in Kish Island, Iran, has been designated for providing support to North Korea’s Tanchon Commercial Bank (Tanchon) and Korea Mining Development Trading Corporation (KOMID).
Tanchon and KOMID have also been designated by the United States under E.O. 13382 and the UN Security Council under Resolution 1718. The Department of State also today targeted North Korea’s nuclear proliferation network by designating Namchongang Trading Corporation (NCG), a North Korean nuclear-related company in Pyongyang, under E.O. 13382.
“North Korea uses front companies like Hong Kong Electronics and a range of other deceptive practices to obscure the true nature of its financial dealings, making it nearly impossible for responsible banks and governments to distinguish legitimate from illegitimate North Korean transactions,” said Stuart Levey, Under Secretary for Terrorism and Financial Intelligence. “Today’s action is a part of our overall effort to prevent North Korea from misusing the international financial system to advance its nuclear and missile programs and to sell dangerous technology around the world.”
Since 2007, Hong Kong Electronics has transferred millions of dollars of proliferation- related funds on behalf of Tanchon and KOMID. Hong Kong Electronics has also facilitated the movement of money from Iran to North Korea on behalf of KOMID. Tanchon, a commercial bank based in Pyongyang, North Korea, is the financial arm for KOMID - North Korea’s premier arms dealer and main exporter of goods and equipment related to ballistic missiles and conventional weapons.
Tanchon plays a key role in financing the sales of ballistic missiles for KOMID. Tanchon has also been involved in financing ballistic missile sales from KOMID to Iran’s Shahid Hemmat Industrial Group (SHIG), which is the Iranian organization responsible for developing liquid-fueled missiles. SHIG has been designated under E.O. 13382 and sanctioned by the United Nations under UN Security Council Resolution (UNSCR) 1737. Since 2005, Tanchon has maintained an active relationship with various branches of Iran’s Bank Sepah, an entity designated under E.O. 13382 and sanctioned by the United Nations under UNSCR 1747, for providing financial services to Iran’s missile program. The U.S. has reason to believe that the Tanchon-Bank Sepah relationship has been used for North Korea-Iran proliferation-related transactions.
For additional information on the Department of State’s designation of Namchongang Trading Corporation, please visit http://state.gov/press.
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Note: The following text is a quote:
http://www.freerepublic.com/focus/f-news/2285303/posts
SKorea says NKorea fires 4 missiles off east coast
AP from Yahoo ^ | July 4, 2009 | KWANG-TAE KIM
Posted on July 3, 2009 11:34:40 PM PDT by AH_LiveRight
SEOUL, South Korea – North Korea fired four missiles off its eastern coast Saturday, South Korea said, in what was likely to be seen as a message of defiance to the United States on its Independence Day holiday.
The launches, which came two days after North Korea fired four short-range missiles, could further escalate tensions in the region as the U.S. tries to muster support for tough enforcement of the U.N. resolution imposed on the communist regime for its May nuclear test.
South Korea’s Joint Chiefs of Staff said three missiles were fired early Saturday and the fourth at about noon but declined to elaborate on the type.
South Korea’s Yonhap news agency quoted military officials as saying the missiles appeared to be a type of Scud missile. North Korea’s Scuds are considered short-range, South Korea’s military said.
(Excerpt) Read more at news.yahoo.com ...