UNSC 1718 COMMITTEE DESIGNATION OF DPRK ENTITIES

S E C R E T SINGAPORE 000476 NOFORN SIPDIS EAP/MTS - MCOPPOLA E.O. 12958: DECL: 05/20/2019 TAGS: EFIN ETTC KNNP PREL PARM SN SUBJECT: UNSC 1718 COMMITTEE DESIGNATION OF DPRK ENTITIES SUBJECT TO ASSET FREEZE: SINGAPORE RESPONSE REF: A. STATE 48525 ¶B. 06 SINGAPORE 3149 ¶C. 06 STATE 136465 Classified By: Acting Econ/Pol Chief Peter Thorin for reasons 1.4 (b) a nd (d) ¶1. (S) Singapore welcomed the April 24 designation by the UNSCR 1718 Sanctions Committee of the three Democratic People's Republic of Korea (DPRK) entities, Sharon SEAH Li-Lian, MFA Assistant Director for the Counter-proliferation and International Security Branch, told Econoff May 18. The designation and the information it made available regarding Korea Mining Development Trading Corporation (KOMID),Korea Ryonbong General Corporation, and Tanchon Commercial Bank, has given the GOS the legal authority to take action (i.e., freeze assets) against businesses found to be financing or making economic resources available to the designated entities. Seah noted that absent such a designation it would have been difficult to identify entities of concern and legally freeze their assets. She was not aware of any action Singapore had taken independently to monitor or prevent activities by KOMID or Korea Ryonbong General Trading. Seah said she would share the information in the Ref A non-paper with the Monetary Authority of Singapore (MAS). ¶2. (S) Seah said she would also look into what kind of actions were previously taken against Tanchon Commercial bank. Econoff informed her of previous discussions between MFA and Emboffs (ref B),and the meeting Treasury Undersecretary for Terrorism and Financial Intelligence, Stuart Levey, had with GOS and United Overseas Bank (UOB) officials in 2006 (ref C). Seah could not say whether Tanchon's UOB account had been closed, but she said she would speak to MAS regarding the April 2009 Bankers Almanac information and provide us with any updates she could learn about Tanchon's financial accounts in Singapore. Post will continue to follow up with MFA and will report any additional information MFA provides. Visit Embassy Singapore's Classified website: http://www.state.sgov.gov/p/eap/singapore/ind ex.cfm SHIELDS