Koryo Bank

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Koryo Bank is a North Korean bank. [1] It was originally opened in July 1994. [2]

Contents

History

The bank has about thirty employees and has regional offices specializing in weapon sales in the Middle East, Myanmar, and Africa. [3]

It is controlled by Korean Workers' Party Office 39 to control "the service industry, hotels and department stores that cater to foreigners". [3]

According to Business Insider , Koryo Bank is the financial institution used by the North Korean Office 39 "to repatriate and hold foreign currency accounts" [4] and, at one time, under the control of the Ministry of Defense. [2]

At one time, the bank's leader was Kim Yong-goo. [2] The bank use to belong to the Trade Bank. [2]

See also

References

  1. ↑ Joe Litt & Park Hyun Min (2008-01-15). "Bankruptcy of North Korean Foreign Currency Management System Due to "Royal Court" Economy". Daily NK . Retrieved 12 September 2017.
  2. 1 2 3 4 Korea North Doing Business for Everyone Guide: Practical Information and Contacts. Intl Business Pubns USA. 2012. p. 68. ISBN   1438772475.
  3. 1 2 Kim Kwang Jin. "The Defector's Tale: Inside North Korea's Secret Economy". World Affairs. Archived from the original on 25 September 2017. Retrieved 12 September 2017.
  4. ↑ "How North Korea uses slaves to get around trade sanctions". Business Insider. July 2017. Retrieved 12 September 2017.
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