In the Annual Report of the Un Security Council Sanctions Committee on North Korea
A total of $750 Million in Thieving Is Suspected
Smuggling of Refined Oil Exceeds 3 Times Its Limit
South Korea and the U.S. Launched a Working-Level Consultation Body
North Korea has reportedly funded half of its total foreign currency through hacking and cyber attacks. In particular, it obtained 40% of the financial resources for nuclear and missile development through cyberterrorism.
On the 20th (local time), the UN Security Council’s North Korea Sanctions Committee released an annual report containing this information. The expert panel of the North Korea Sanctions Committee checks the implementation of the Security Council’s sanctions against North Korea and reports the results of its activities to the UN twice a year.
The panel pointed out that North Korea appears to have committed many thefts related to virtual assets. It is investigating 17 cases of virtual asset theft suspected of being involved with North Korea last year. The scale of the theft amounts to a total of $750 million. If the scope is extended from 2017 to 2023, the amount stolen by North Korea through cyber attacks against companies related to virtual assets amounts to approximately $3 billion. The Security Council is investigating 58 suspected cases related to this.
The panel analyzed, “North Korea has consistently posed a cyber threat, targeting the virtual asset industry, which has a weak regulation,” and “to generate income to avoid UN sanctions.”
The report pointed out that by avoiding sanctions, North Korea has advanced its nuclear and ballistic missile programs and has been producing atomic fission materials. The report also contains content supporting the continuation of arms trade between North Korea and Russia. It was that a Russian ship traveled between the North Korean Najin Port and the Russian Vladivostok Dunay Port carrying containers.
It was also analyzed that the refined oil imported into North Korea from January to September 15 last year could reach up to 1.52 million barrels. This is more than three times the annual import limit of 500,000 barrels under the Security Council’s sanctions against North Korea. In response, the United States and South Korea have agreed to launch a working-level consultation body to respond to North Korea’s smuggling of refined oil.
Meanwhile, according to NK News, North Korea-specialized media in the U.S., the Security Council will vote on whether to extend the mission of the North Korea Sanctions Committee expert panel on the 22nd. There are predictions that the panel’s activities may end due to disagreements between Russia and China and the remaining permanent member countries, such as the United States, the United Kingdom, and France.
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