A new report from research groups in Washington and Seoul has highlighted the sophisticated ways that North Korea’s international finance network uses foreign banks to sidestep sanctions targeting the reclusive regime.
Hong Kong remains a host to a number of companies that have been sanctioned by the US Treasury for their links to North Korea’s nuclear weapons programme. A report from the Financial Times in November showed that there were at least 16 active companies in Hong Kong that were operated by or connected to US-sanctioned entities or individuals.
Experts say that such companies often act as a lifeline between the Kim Jong Un regime and the global financial system.
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