Financial Sanctions Imposed on Individuals in Democratic People’s Republic of Korea

The United Kingdom has imposed financial sanctions on several individuals from the Democratic People’s Republic of Korea (DPRK) in a bid to restrict their access to funds and economic resources. The sanctions, which were updated on November 11, 2022, target individuals who are involved in the DPRK’s military programs.

Sanctioned Individual

One individual has been added to the list of sanctioned persons:

• Kim SOK CHOL: A North Korean national with a date of birth of May 8, 1955. He is listed as a KOMID facilitator and was previously designated as the DPRK Ambassador to Burma/Myanmar.

Sanctions Requirements

The sanctions require individuals and institutions to:

• Freeze the assets of those on the list
• Refrain from dealing with their funds or making them available

Enforcement

The Office of Financial Sanctions Implementation (OFSI) has been tasked with enforcing these sanctions. Failure to comply can result in criminal charges.

Resources

Details of the sanctioned individual and the updated UK Sanctions List can be found on the Gov.UK website. Additionally, information on UN measures against the DPRK can be obtained from the relevant UN Sanctions Committee webpage.

UK’s Financial Sanctions Regime

The UK’s financial sanctions regime aims to restrict the flow of funds to individuals and entities involved in the DPRK’s military programs. The sanctions are designed to limit the ability of these individuals to access financial resources and to disrupt their ability to engage in activities that support the DPRK’s military efforts.

Enquiries

Enquiries about the implementation of financial sanctions in the UK should be addressed to OFSI, while enquiries about the sanctions measures themselves should be directed to the Foreign, Commonwealth & Development Office.