Coal, ships and steel: New Hong Kong company flouts DPRK sanctions, report says



Analysis Coal, ships and steel: New Hong Kong company flouts DPRK sanctions, report says Firm’s murky origins and alleged dealings fit the bill of Pyongyang’s usual cast of overseas collaborators Ethan Jewell February 22, 2022 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON NK Pro (file) \| Workers move coal in a steel mill in Pyongyang, Aug. 17, 2018 An opaque company in Hong Kong recently joined Kim Jong Un’s shadowy overseas procurement network, an upcoming U.N. report seen by NK Pro alleges, underscoring the regime’s continued ability to exploit business-friendly jurisdictions despite unremitting pressure from sanctions enforcers. The company, HongKong Great Fortune Development Co. Ltd. (HKGF), is the latest Hong Kong-based firm to fall in the crosshairs of U.N. monitors for a range of alleged sanctions violations, some of which may have netted the Kim regime tens of millions of dollars for its weapons programs. Citing several unspecified sources 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 01New North Korean ICBM delivers big political message, and likely bigger payloads 02How North Korea-Russia ties will challenge next US president, no matter who wins 03What to make of the stunning collapse in value of North Korean won 04What to know about Kim Yong Bok, the man leading North Korean troops in Russia 05If Trump: How erratic leader’s reelection could scramble North Korea policy 06North Korea’s admission of drone incursion exposes glaring gaps in air defenses 07The war in Ukraine is transforming how Europe perceives North Korean threats 08What North Korea stands to gain by sending troops to fight in Ukraine 09Satellite imagery shows DPRK laid explosives at edge of MDL to destroy roads 10Deciphering the return of No Kwang Chol as North Korea’s minister of defense

Analysis

Coal, ships and steel: New Hong Kong company flouts DPRK sanctions, report says

Firm’s murky origins and alleged dealings fit the bill of Pyongyang’s usual cast of overseas collaborators

Ethan Jewell February 22, 2022

Coal, ships and steel: New Hong Kong company flouts DPRK sanctions, report says

NK Pro (file) | Workers move coal in a steel mill in Pyongyang, Aug. 17, 2018

An opaque company in Hong Kong recently joined Kim Jong Un’s shadowy overseas procurement network, an upcoming U.N. report seen by NK Pro alleges, underscoring the regime’s continued ability to exploit business-friendly jurisdictions despite unremitting pressure from sanctions enforcers.

The company, HongKong Great Fortune Development Co. Ltd. (HKGF), is the latest Hong Kong-based firm to fall in the crosshairs of U.N. monitors for a range of alleged sanctions violations, some of which may have netted the Kim regime tens of millions of dollars for its weapons programs.

Citing several unspecified sources

01New North Korean ICBM delivers big political message, and likely bigger payloads
02How North Korea-Russia ties will challenge next US president, no matter who wins
03What to make of the stunning collapse in value of North Korean won
04What to know about Kim Yong Bok, the man leading North Korean troops in Russia
05If Trump: How erratic leader’s reelection could scramble North Korea policy
06North Korea’s admission of drone incursion exposes glaring gaps in air defenses
07The war in Ukraine is transforming how Europe perceives North Korean threats
08What North Korea stands to gain by sending troops to fight in Ukraine
09Satellite imagery shows DPRK laid explosives at edge of MDL to destroy roads
10Deciphering the return of No Kwang Chol as North Korea’s minister of defense

Coal, ships and steel: New Hong Kong company flouts DPRK sanctions, report says

LATEST ANALYSIS

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Ethan Jewell