Taesong Bank Explained
| Korea Taesong Bank |
| Native Name: | 조선대성은행 |
| Native Name Lang: | ko |
| Industry: | Bank |
| Predecessors: | --> |
| Successors: | --> |
| Founders: | --> |
| Hq Location: | Segori-dong, Gyongheung St., Potonggang District[1] |
| Hq Location City: | Pyongyang |
| Hq Location Country: | North Korea |
| Areas Served: | --> |
| Profit: | --> |
| Profit Year: | --> |
| Owners: | --> |
| Slogans: | --> |
| Module: | | Hangul: | 대성은행 | | Hanja: | 大成銀行 | | Rr: | Daeseong eunhaeng | | Mr: | Taesŏng ŭnhaeng | | Context: | north | | Child: | yes |
|
| Homepage: | --> |
Korea Taesong Bank (Korean: 조선 대성 은행;[2] sometimes called Daesong Bank, Dae-Sung Bank[3] or Taesong General Trading Corporation;[4] in Japan called Chosun Tae Seong-Unhan; Tae-bank, Choson Taesong Unhaeng[5]) is a North Korean financial institution.[6]
The Korea Taesong Bank is reportedly controlled by Room 39.[7] [8]
The Golden Star Bank, founded as a corporation in Vienna, Austria, was the only North Korean bank in Europe but was closed in 2004, was a subsidiary of the Taesong Bank.[7] Kwon Yong-nok was an auditor of the Golden Star Bank.[9]
"Taesong Bank, which received remittances from Mt. Kumgang tourism, is controlled by Room 39, and is also in charge of the exports of agricultural and fisheries products."[10]
Projects
- In 1989, it was to jointly develop the area around Mount Kumgang,[11] on the eastern coast of North Korea, as a tourist site with Hyundai.[12]
- The company has been implicated in the smuggling of arms into and out of North Korea[13] and "Involved in facilitating proliferation financing projects."[14]
Members
- In 1989, Choe Su-gil, president of the Taesong Bank of North Korea[12] and consultant to the Korean Association for the Promotion of Asian Trade.[11]
- In 2014, Kim Yo-jong took control of Taesong Bank, the Reunification and Development Bank, and a number of tourism and railway projects
- In 2014, Yun Tae-hyong, a regional manager in the Russian Far East for the Taesong Bank, defected to Russia.[4]
Notes and References
- Web site: OFAC ID: 12312 . 26 May 2015 . dead . https://web.archive.org/web/20150527000411/http://www.mib.com/sasl/id/OFAC/12312?flavor=html . 27 May 2015 .
- Web site: Recent OFAC Actions - November 18, 2010 . US Treasury Department . 26 May 2015.
- Web site: How North Korea uses slaves to get around trade sanctions . Business Insider . 11 July 2017 . 12 September 2017.
- Web site: A Senior North Korean Banking Official Defects? . . 3 September 2014 . 7 April 2016 . Madden, Michael.
- Web site: コリア・デソン・バンク . 26 May 2015 . Japanese.
- [Michael Breen (author)]
- Web site: Mapping North Korea Proliferation . THE NON-PROLIFERATION MONTHLY . cesim.fr . 26 May 2015 . Timothée Germain . 7 . 73.
- Web site: How North Korea uses slaves to get around trade sanctions . Business Insider . 11 July 2017 . 12 September 2017.
- Web site: North Korean Policy Elites; see footnote 66 . https://web.archive.org/web/20170624031547/http://www.dtic.mil/cgi-bin/GetTRDoc?AD=ADA427588 . live . June 24, 2017 . INSTITUTE FOR DEFENSE ANALYSES . June 2004 . 26 May 2015.
- Web site: Room (Bureau) 38 allegedly restored . North Korean Economic Watch . 26 May 2015.
- Web site: South, North Koreans Talk of Tourism Venture . . February 2, 1989 . 26 May 2015.
- Web site: THE TWO KOREAS AGREE TO DEVELOP RESORT IN NORTH . . 2 February 1989 . 26 May 2015 . SUSAN CHIRA.
- Web site: Report of the Panel of Experts established pursuant to resolution 1874 (2009) . . 14 June 2012 . 26 May 2015.
- Web site: Sanctions: UK Treasury part 29; Sanctions in Action . https://web.archive.org/web/20150923182051/http://www.bankinginsurancesecurities.com/sanctions_closures_fi_spam/Sanctions/uk_treasury_financial_sanctions_targets/sanctions_uk_treasury_part_29 . dead . 23 September 2015 . UK Treasury . 28 February 2011 . 26 May 2015 .
