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 01North Korea reveals new vertical take-off drones amid ‘modern warfare’ push 02How long-range strikes on Russia could impact North Korean troop deployments 03How North Korean hackers and IT workers collude to cause chaos 04What pro-Trump think tanks reveal about his likely North Korea policy priorities 05Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump. 06All the question marks hanging over Trump’s approach to North Korea in term two 07Time almost up for North Korea’s plan to launch 3 military satellites in 2024 08Trump return rekindles prospects of North Korea talks, but Russia stands in way 09How China could benefit from North Korea’s troop deployment to Ukraine 10New North Korean ICBM delivers big political message, and likely bigger payloads

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

01North Korea reveals new vertical take-off drones amid ‘modern warfare’ push
02How long-range strikes on Russia could impact North Korean troop deployments
03How North Korean hackers and IT workers collude to cause chaos
04What pro-Trump think tanks reveal about his likely North Korea policy priorities
05Yoon bet on US to deter North Korea. Now he faces an alliance skeptic in Trump.
06All the question marks hanging over Trump’s approach to North Korea in term two
07Time almost up for North Korea’s plan to launch 3 military satellites in 2024
08Trump return rekindles prospects of North Korea talks, but Russia stands in way
09How China could benefit from North Korea’s troop deployment to Ukraine
10New North Korean ICBM delivers big political message, and likely bigger payloads

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

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Ethan Jewell