Identify those who generate revenue for the DPRK

PRESS RELEASE
ANTONY J. BLINKEN, FOREIGN SECRETARY

The United States has pledged to counter efforts by the Democratic People’s Republic of Korea (DPRK) to generate revenue for its illicit weapons of mass destruction (WMD) and ballistic missile programs. Today we are taking action against three entities and two individuals who attempted this.

The Ministry of Finance’s Office of Foreign Assets Control (OFAC) designates Chilsong Trading Corporation and Korea Paekho Trading Corporation as agencies, organs or controlled entities of the DPRK government pursuant to Executive Order (EO) 13687. OFAC also designates Hwang Kil Su and Pak Hwa Song and a company owned or controlled by Pak, Congo Aconde SARL under EO 13810.

These entities and individuals have generated all of the revenue that the DPRK uses for its weapons programs. Pak and Hwang founded Congo Aconde SARL in the Democratic Republic of the Congo to raise revenue from building and statue projects with local governments. Chilsong reports to the DPRK government, which uses trading companies like Chilsong to earn foreign exchange, gather intelligence and provide cover status for intelligence agents. Paekho has raised funds for the DPRK government since the 1980s by undertaking art and construction projects on behalf of governments in the Middle East and Africa. Paekho reports to the UN-US-designated DPRK Ministry of People’s Armed Forces.

Today’s action further aligns US sanctions with our international partners. The European Union had previously named Chilsong, Paekho, Pak and Hwang for involvement in sanctions evasion and support for the DPRK’s illicit nuclear and ballistic missile programs.