Wednesday, May 18, 2016

THREATS FROM NORTH KOREA: North Korea gained foreign funds

North Korea is reportedly earning foreign cash by registering foreign vessels as North Korean ships, a practice which is a clear violation of UN sanctions.

VOA (Voice of America) reported that the Korean Peninsula registered six vessels from Middle East nations, including Iran and United Arab Emirates, from last year to March.

The report says the foreign shipping companies benefit from avoiding certain taxes, while Pyongyang gets the foreign currency it gained.

Source: Arirang News

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