Singaporean conglomerate SUTL denies business links to North Korea



Evergreen Singaporean conglomerate SUTL denies business links to North Korea SUTL was previously listed as a 50% owner of a DPRK cigarette factory, reportedly had five in-country employees Chad O'Carroll December 1, 2017 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON CPC_5090 1 by nknews_hq on 2016-10-07 15:30:07 A Singaporean conglomerate which acquired a joint-venture (J/V) cigarette factory in North Korea from British-American Tobacco (BAT) in 2007 told NK Pro on Tuesday that it no longer has business there, but declined to provide further details on the state of its assets in-country. The denial from SUTL Group – which represents Nike and Kentucky Fried Chicken in Singapore and Vietnam and manages a marina in Brooklyn, New York – comes amid recent changes to United Nations sanctions and domestic law which will outlaw most J/Vs in North Korea. “We have no business with the North 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 Assad’s downfall could expose secrets of North Korea-Syria military ties 02All the companies that participated in the Pyongyang Autumn Trade Fair 2024 03No Chinese firms joined North Korea’s latest trade fair dominated by Russia 04What defectors’ exam scores reveal about the quality of North Korean health care 05North Korean Il-76 cargo planes make rare flights to northeast coast 06From aid to academia: The status of foreign organizations in North Korea 07North Korea expanding rail access to airport near Wonsan mega resort: Imagery 08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere 09How Seoul’s new L-SAM interceptor boosts defenses against North Korean missiles 10Where things stand with the diplomatic community in North Korea

Evergreen

Singaporean conglomerate SUTL denies business links to North Korea

SUTL was previously listed as a 50% owner of a DPRK cigarette factory, reportedly had five in-country employees

Chad O'Carroll December 1, 2017

Singaporean conglomerate SUTL denies business links to North Korea

CPC_5090 1 by nknews_hq on 2016-10-07 15:30:07

A Singaporean conglomerate which acquired a joint-venture (J/V) cigarette factory in North Korea from British-American Tobacco (BAT) in 2007 told NK Pro on Tuesday that it no longer has business there, but declined to provide further details on the state of its assets in-country.

The denial from SUTL Group – which represents Nike and Kentucky Fried Chicken in Singapore and Vietnam and manages a marina in Brooklyn, New York – comes amid recent changes to United Nations sanctions and domestic law which will outlaw most J/Vs in North Korea.

“We have no business with the North

01How Assad’s downfall could expose secrets of North Korea-Syria military ties
02All the companies that participated in the Pyongyang Autumn Trade Fair 2024
03No Chinese firms joined North Korea’s latest trade fair dominated by Russia
04What defectors’ exam scores reveal about the quality of North Korean health care
05North Korean Il-76 cargo planes make rare flights to northeast coast
06From aid to academia: The status of foreign organizations in North Korea
07North Korea expanding rail access to airport near Wonsan mega resort: Imagery
08Assad’s fall deprives North Korea of a fellow pariah, but its focus is elsewhere
09How Seoul’s new L-SAM interceptor boosts defenses against North Korean missiles
10Where things stand with the diplomatic community in North Korea

Singaporean conglomerate SUTL denies business links to North Korea

LATEST ANALYSIS

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Chad O'Carroll