US sanctions Hyoksin Trading Corporation

Nearly two weeks ago, the UN Security Council sanctioned five North Korean organizations. One of them was the Hyoksin Trading Corporation.  I believe they even have a web page here.

Today, the US imposed financial sanctions on this company.  According to the The Associated Press  (Via the Washington Post):

The Obama administration on Thursday imposed financial sanctions on a North Korean firm accused of involvement in the country’s missile programs.

The Treasury Department’s action covers Korea Hyoksin Trading Corp. It means any bank accounts or other financial assets found in the United States that belong to the company must be frozen. Americans also are prohibited from doing business with the firm.

It is the latest move by the United States to keep pressure on Pyongyang, whose nuclear ambitions have ratcheted up global tensions.

The department alleges that Korea Hyoksin Trading is owned or controlled by another North Korean firm, Korea Ryonbong General Corp., which the United States says is involved in the development of weapons of mass destruction. Korea Ryonbong supports Pyongyang’s sales of military-related items, the department said.

Read the full story here:
US tightens financial noose on North Korea
The Associated Press
Jeannine Aversa
7/30/2009

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3 Responses to “US sanctions Hyoksin Trading Corporation”

  1. Jarrod Says:

    I just have to say this is a fantastic site. Really is the best source of news out there for the DPRK. I’m advertising your Google Map on my site b/c it is so well done. Thanks!

  2. North Korean Economy Watch » Blog Archive » US Treasury sanctions another DPRK financial organization Says:

    […] Further information: 1. Here is an earlier story that contains iformation on other sancitons imposed this year. […]

  3. North Korean Economy Watch » Blog Archive » Treasury blacklists another DPRK bank Says:

    […] US has sanctioned several companies and banks this year (here and […]