Regulatory Alerts2016-10-07 | BSD/DIR/GEN/LAB/09/044United Nations Security Council Resolution (UNSCR) 2270 (2016)
The Democratic People's Republic of Korea (DPRK), also known as North Korea, is a country in East Asia with its capital located in Pyongyang. It is currently ruled by the Kim dynasty, currently led by Kim Jong-un. The DPRK has been subject to international sanctions due to its nuclear and missile programs, human rights abuses, and involvement in cyber attacks. The North Korean economy is primarily state-controlled, with most major industries owned or heavily influenced by the government. Despite this, there are some areas of private economic activity, such as small shops and markets. The economy is predominantly agrarian, although it also has a significant mining industry. Key exports include coal, minerals, textiles, and military equipment. The DPRK has an extensive network of trade relationships with countries around the world. These relationships are facilitated by a complex system of front companies and diplomatic missions. The government-run Overseas Korean Workers' Association (OKWA) also plays a significant role in arranging labor exports, which provide a substantial source of foreign currency for North Korea. Despite the sanctions imposed on the DPRK, it has been able to maintain an illicit trade network through various methods, including shipping and maritime activities. The country is believed to operate numerous vessels that transport goods in violation of international sanctions. These vessels have been involved in activities such as coal smuggling and the transfer of prohibited luxury items. The North Korean government also has a history of engaging in cyber espionage, including attempts to steal intellectual property and sensitive information from foreign governments and companies. This activity is often carried out by groups affiliated with the government, such as Lazarus Group and APT38. In summary, despite facing significant international pressure, the DPRK has managed to maintain an extensive trade network through various means, including illicit activities and cyber espionage. The country's economy remains heavily state-controlled, with key industries owned or influenced by the government.