January 29, 2023
News

Seoul hosts sanctions compliance lecture after ROK ship ends up in North Korea

DPRK has growing interest in acquiring foreign vessels for evasion and illicit transfers, foreign ministry says

South Korea’s foreign ministry held a “guidance” lecture on Wednesday to help maritime sector firms stay compliant with U.N. sanctions against North Korea after a Panel of Experts report suggested a South Korean boat wound up in the DPRK.

The first-of-its-kind information session explained maritime sanctions to some 160 participants and how to conduct proper due diligence when selling used ships. The lecture also outlined the penalties companies may incur if they knowingly or unknowingly violate U.N. Security Council UNSC) resolutions.