Treasury Blocks 2 Korean Entities Pursuant to North Korea EO
The Treasury Department has designated Korea Daesong Bank and Korea Daesong General Trading Corporation pursuant to Executive Order 13551 for being owned or controlled by Office 39 of the Korean Workers' Party. Office 39 was named in the Annex to E.O. 13551, issued by President Obama on August 30, 2010, in response to the U.S. government's longstanding concerns regarding North Korea's involvement in a range of illicit activities. As a result of these designations, any assets of the designated entities that are within U.S. jurisdiction are frozen and U.S. persons are prohibited from conducting financial or commercial transactions with these entities.
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The Office of Foreign Assets Controls has updated its Specially Designated Nationals list pursuant to North Korea designations to add these entities, which is available here.