Chinese firm boasts of business and connections with North Korean entities



News Chinese firm boasts of business and connections with North Korean entities Firm allegedly helped DPRK acquire point of sale devices that experts say could strengthen state control over economy Ethan Jewell September 10, 2021 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON Zhimin Pan, Flickr Creative Commons \| A stack of old-style North Korean banknotes Yongxiang International Trading Co. Ltd., a Chinese firm with ties to the Central Bank of North Korea, recently signed multiple procurement contracts with a North Korean research center for systems used to process financial transactions, a draft of a forthcoming U.N. Panel of Experts (PoE) report seen by NK Pro shows. Screen captures contained in the upcoming U.N. report show a Jan. 2021 announcement from Yongxiang International detailing the transfer of point of sale (PoS) devices to the Korea Computer Center (KCC). The company’s website is still accessible as of Friday, but the post regarding Read More © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Elite absences hint at a North Korean power struggle ahead of party congress 02With Yoon’s exit, South Korea faces critical choices on North Korea strategy 03Tools of the trade: How North Korea launders billions in stolen cryptocurrency 04North Korea’s ‘new’ sniper rifle likely Austrian import or copy: Analysis 05North Korean ICBM factory upgrade project resumes, expands: Imagery 06Ruse or revolution? Analyzing North Korea’s new drone and AEW&C aircraft 07New construction underway near North Korean aircraft factories amid drone push 08What Americans think about travel to North Korea, 8 years after Warmbier’s death

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Chinese firm boasts of business and connections with North Korean entities

Firm allegedly helped DPRK acquire point of sale devices that experts say could strengthen state control over economy

Ethan Jewell September 10, 2021

Chinese firm boasts of business and connections with North Korean entities

Zhimin Pan, Flickr Creative Commons | A stack of old-style North Korean banknotes

Yongxiang International Trading Co. Ltd., a Chinese firm with ties to the Central Bank of North Korea, recently signed multiple procurement contracts with a North Korean research center for systems used to process financial transactions, a draft of a forthcoming U.N. Panel of Experts (PoE) report seen by NK Pro shows.

Screen captures contained in the upcoming U.N. report show a Jan. 2021 announcement from Yongxiang International detailing the transfer of point of sale (PoS) devices to the Korea Computer Center (KCC). The company’s website is still accessible as of Friday, but the post regarding

01Elite absences hint at a North Korean power struggle ahead of party congress
02With Yoon’s exit, South Korea faces critical choices on North Korea strategy
03Tools of the trade: How North Korea launders billions in stolen cryptocurrency
04North Korea’s ‘new’ sniper rifle likely Austrian import or copy: Analysis
05North Korean ICBM factory upgrade project resumes, expands: Imagery
06Ruse or revolution? Analyzing North Korea’s new drone and AEW&C aircraft
07New construction underway near North Korean aircraft factories amid drone push
08What Americans think about travel to North Korea, 8 years after Warmbier’s death

Chinese firm boasts of business and connections with North Korean entities

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Ethan Jewell