Government Imposes Independent Sanctions on Hong Kong Shipping Company Involved in North Korea's Illegal Maritime Activities

Coal Transshipment Near Nampo Waters in March This Year
Foreign Ministry "Strong Will to Block North Korea's Illegal Maritime Activities"

The government announced that it will impose independent sanctions on the Hong Kong shipping company 'HK Yirin' involved in the illegal maritime transshipment of North Korean coal and the North Korean vessel 'Deokseongho'.

On the 18th, the Ministry of Foreign Affairs stated that these independent sanctions will be implemented as of the 19th. According to the Ministry, as a result of a joint investigation conducted since early this year, the stateless vessel De Yi, owned by HK Yirin, transferred and transported North Korean coal from the Deokseongho near the waters off Nampo, North Korea, in March. The government detained the vessel, which was heading to Vladivostok, Russia, in the waters near Yeosu City, Jeollanam-do, on suspicion of violating UN Security Council sanctions against North Korea, and has been conducting related investigations.

Maritime transshipment with North Korean vessels and the export of North Korean coal are both prohibited under UN Security Council sanctions against North Korea. The Deokseongho is a secondhand vessel imported into North Korea at the end of March last year, and supplying secondhand vessels to North Korea itself is also a violation of sanctions. North Korea evades sanctions by trading prohibited goods through illegal maritime transshipment between vessels, procuring materials and funds necessary for nuclear and missile development.

An official from the Ministry of Foreign Affairs said, "This demonstrates the government's strong will to deter illegal nuclear and missile development by blocking North Korea's illegal maritime activities," adding, "We will continue to take strong and consistent law enforcement measures against vessels and shipping companies involved in transporting prohibited goods and violating activities under Security Council sanctions resolutions, while closely cooperating with allied countries."

Financial or foreign exchange transactions with individuals or organizations designated as sanction targets require prior approval from the Financial Services Commission or the Governor of the Bank of Korea, respectively, and unauthorized transactions may be punished under relevant laws. Sanctioned vessels may only enter the country with permission from the relevant management authority.