US Advisory on North Korean Joint Ventures

CBP and ICE, with the U.S. Department of State, and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), issued the North Korea Sanctions and Enforcement Actions Advisory: Risks for Businesses with Supply Chain Links to North Korea on July 23, 2018. The advisory informs the trade of North Korea's evasion tactics, compliance risks and requirements, as well as due diligence best practices.

This advisory includes a list of joint ventures with partners from China and other countries. We make this list of joint ventures available as a dataset of entities with noteworthy trade risk.

The UN Security Council resolution 2375 requires Member States to prohibit all joint ventures with North Korean entities and individuals, whether new or already existing, subject to very narrow exceptions.

According to the advisory:

NOTE: This annex lists joint ventures that have operated or are currently operating in North Korea established prior to 2016 and is not a comprehensive list of North Korean joint ventures that exist at this time. This annex is not a “sanctions list.” While some entities on this list may be entities whose property and interests in property are blocked, the inclusion of these entities in this advisory does not constitute as a determination by OFAC that any of these entities meet the designation criteria under any sanctions program. Persons subject to sanctions can be found on OFAC's List of Specially Designated Nationals and Blocked Person and other sanctions lists, which can be searched here.

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