Korea Kwangson Banking Corporation (KKBC)

Entity structure as published: Tüzel Kişi/Kuruluş/Organizasyon

KKBC provides financial services in support to Tanchon Commercial Bank (KPe.003) and Korea Hyoksin Trading Corporation (KPe.006), a subordinate of the Korea Ryonbong General Corporation (KPe.002). Tanchon Commercial Bank has used KKBC to facilitate funds transfers likely amounting to millions of dollars, including transfers involving Korea Mining Development Corporation (KPe.001) related funds. . Blocked by SWIFT in March 2017.

fournit des services financiers à l'appui de la Tanchon Commercial Bank et de la Korea Hyoksin Trading Corporation, une filiale de la Korea Ryonbong General Corporation. La Tanchon Commercial Bank a recouru au service de la KKBC pour effectuer des transferts de fonds représentant des millions de dollars, notamment des transferts de fonds liés à la Korea Mining Development Trading Corporation

KPe.025. KKBC provides financial services in support to Tanchon Commercial Bank and Korea Hyoksin Trading Corporation, a subordinate of the Korea Ryonbong General Corporation. Tanchon Commercial Bank has used KKBC to facilitate funds transfers likely amounting to millions of dollars, including transfers involving Korea Mining Development Corporation related funds.

(UE) 2017/1509 du 30/08/2017 (ONU Corée du Nord - RCSNU 1718 (2006) et R (UE) 2017/1509) (FondementJuridique: 421)

Adresse : Jungson-dong, Sungri Street, Central District, Pyongyang, RPDC

"FinCEN is concerned that Bank of Dandong uses the U.S. financial system to facilitate financial activity for Korea Kwangson Banking Corporation (KKBC) and KOMID, as well as other entities connected to North Korea's WMD and ballistic missile programs"; "KKBC is a U.S.- and UN-designated North Korean bank that has provided financial services in support of WMD proliferators"; "KKBC maintained a direct relationship with Bank of Dandong since approximately 2013"

KKBC provides financial services in support to Tanchon Commercial Bank and Korea Hyoksin Trading Corporation, a subordinate of the Korea Ryonbong General Corporation. Tanchon Commercial Bank has used KKBC to facilitate funds transfers likely amounting to millions of dollars, including transfers involving Korea Mining Development Corporation related funds.

"The United States and United Nations have identified Korea Mining Development Trading Corporation (KOMID), Tanchon Commercial Bank (TCB), Korea Kwangson Banking Corporation (KKBC), and Daedong Credit Bank (DCB) as entities that conduct financial transactions in support of North Korea’s proliferation of WMD or ballistic missiles"; "the Department of the Treasury designated KKBC under E.O. 13382 in August 2009, and the UN listed KKBC under UNSCR 2270 in March 2016"; "In spite of its designation, KKBC has continued to evade sanctions and process financial transactions that support the proliferation of WMD and ballistic missiles by using front companies to clear U.S. dollar transactions through U.S. correspondent accounts"

According to Annex XXIII (p. 132) of the UN Panel of Experts June 2013 report, the Korea Kwangson Banking Corporation operates a branch in Dandong, China, under its former name "Korea Kwangson Finance Company".

"In particular, Bank of Dandong has facilitated financial activity for Korea Kwangson Banking Corporation (KKBC), a North Korean bank designated by the United States and listed by the United Nations for providing financial services in support of North Korean WMD proliferators"; "As of May 2012, KKBC had a representative embedded at Bank of Dandong"; "Moreover, Bank of Dandong maintained a direct correspondent banking relationship with KKBC since approximately 2013, when another Chinese bank ended a similar correspondent relationship"

(also KKBC)

Décision du comité de sanction des Nations unies du 02/03/2016 (ONU Corée du Nord - RCSNU 1718 (2006) et R (UE) 2017/1509) (FondementJuridique: 364)

(Date of UN designation: 2016-03-02)

A Democratic People’s Republic of Korea’s state run bank, involved in the country’s illicit financial networks

Other information: KKBC provides financial services in support to Tanchon Commercial Bank and Korea Hyoksin Trading Corporation, a subordinate of the Korea Ryonbong General Corporation. Tanchon Commercial Bank has used KKBC to facilitate funds transfers likely amounting to millions of dollars, including transfers involving Korea Mining Development Corporation related funds.