Koryo Bank is a North Korean bank.[1] It was originally opened in July 1994.[2]
History
editThe 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
edit
References
edit- ^ 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.
- ^ a b c d Korea North Doing Business for Everyone Guide: Practical Information and Contacts. Intl Business Pubns USA. 2012. p. 68. ISBN 1438772475.
- ^ a b 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.
{{cite web}}: CS1 maint: unfit URL (link) - ^ "How North Korea uses slaves to get around trade sanctions". Business Insider. July 2017. Retrieved 12 September 2017.