Chinese firm boasts of business and connections with North Korean entities



News Chinese firm boasts of business and connections with North Korean entities Firm allegedly helped DPRK acquire point of sale devices that experts say could strengthen state control over economy Ethan Jewell September 10, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Zhimin Pan, Flickr Creative Commons \| A stack of old-style North Korean banknotes Yongxiang International Trading Co. Ltd., a Chinese firm with ties to the Central Bank of North Korea, recently signed multiple procurement contracts with a North Korean research center for systems used to process financial transactions, a draft of a forthcoming U.N. Panel of Experts (PoE) report seen by NK Pro shows. Screen captures contained in the upcoming U.N. report show a Jan. 2021 announcement from Yongxiang International detailing the transfer of point of sale (PoS) devices to the Korea Computer Center (KCC). The company’s website is still accessible as of Friday, but the post regarding Read More © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01How China could benefit from North Korea’s troop deployment to Ukraine 02New North Korean ICBM delivers big political message, and likely bigger payloads 03How North Korea-Russia ties will challenge next US president, no matter who wins 04What to make of the stunning collapse in value of North Korean won 05What to know about Kim Yong Bok, the man leading North Korean troops in Russia 06If Trump: How erratic leader’s reelection could scramble North Korea policy 07North Korea’s admission of drone incursion exposes glaring gaps in air defenses 08The war in Ukraine is transforming how Europe perceives North Korean threats

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Chinese firm boasts of business and connections with North Korean entities

Firm allegedly helped DPRK acquire point of sale devices that experts say could strengthen state control over economy

Ethan Jewell September 10, 2021

Chinese firm boasts of business and connections with North Korean entities

Zhimin Pan, Flickr Creative Commons | A stack of old-style North Korean banknotes

Yongxiang International Trading Co. Ltd., a Chinese firm with ties to the Central Bank of North Korea, recently signed multiple procurement contracts with a North Korean research center for systems used to process financial transactions, a draft of a forthcoming U.N. Panel of Experts (PoE) report seen by NK Pro shows.

Screen captures contained in the upcoming U.N. report show a Jan. 2021 announcement from Yongxiang International detailing the transfer of point of sale (PoS) devices to the Korea Computer Center (KCC). The company’s website is still accessible as of Friday, but the post regarding

01How China could benefit from North Korea’s troop deployment to Ukraine
02New North Korean ICBM delivers big political message, and likely bigger payloads
03How North Korea-Russia ties will challenge next US president, no matter who wins
04What to make of the stunning collapse in value of North Korean won
05What to know about Kim Yong Bok, the man leading North Korean troops in Russia
06If Trump: How erratic leader’s reelection could scramble North Korea policy
07North Korea’s admission of drone incursion exposes glaring gaps in air defenses
08The war in Ukraine is transforming how Europe perceives North Korean threats

Chinese firm boasts of business and connections with North Korean entities

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Ethan Jewell