Kim Jong-un's Luxury Brand Love... North Korea Doubles Swiss Watch Imports

Last Year Swiss Watch Imports Amounted to $23,500
Evidence of Continued Trade in Prohibited Items with China and Russia

On July 25 last year, during the short-range ballistic missile launch observation, the wristwatch worn by Kim Jong-un, Chairman of the State Affairs Commission of North Korea, was known to be a Swiss-made product worth well over 10 million won.

This year, North Korea, which declared a 'direct confrontation' with sanctions against it, has been found to have imported a large number of banned items such as luxury goods and machinery equipment last year. In particular, the import value of Swiss watches nearly doubled compared to the previous year, according to Radio Free Asia (RFA) on the 13th (local time).

According to the Swiss Watch Industry Association's statistics on Swiss watch exports to North Korea, the value of Swiss watches imported by North Korea from January to November 2019 was approximately $23,500. This includes 106 wristwatches and watch parts. This is about twice the $12,070 worth of watches imported during the same period in 2018.

According to United Nations Security Council (UNSC) sanctions resolution 2270, luxury brand watches are included in the list of prohibited export items.

Regarding the implementation of sanctions against North Korea, the association explained to RFA, "Switzerland is a country that complies with UN sanctions against North Korea, and the watches Switzerland exported to North Korea last year were priced below the luxury goods price limit of 1,000 francs (about $1,000) set by the sanctions, at 215 francs (about $220)." However, the association added, "We cannot control Swiss watches entering North Korea through third countries."

Chairman Kim, who spent his youth in Switzerland, is known not only to personally prefer Swiss luxury goods such as high-end watches but also to frequently purchase them as gifts for officials.

The wristwatch worn by Chairman Kim during the short-range ballistic missile launch observation on July 25 last year is reported to be a Swiss-made product worth well over 10 million won.

Additionally, it was reported by Voice of America (VOA) on the same day that North Korea has continued trade of banned items under UNSC resolutions with China and Russia. From January to November last year, North Korea imported banned items worth about $2.745 million from China, including electrical machinery, equipment, and tape recorders.

According to UNSC resolution 2397, North Korea's major prohibited import items include electrical machinery and parts, iron and steel, and industrial machinery. Prohibited export items include agricultural products and machinery. The total import value of North Korea's seven banned item categories is approximately $4.09 million.

VOA analyzed that North Korea imported banned items worth about $1.62 million from Russia from January to October last year, including industrial machinery, iron and steel products, and aluminum products, totaling five banned item categories.