U.S. Freezes Assets of North Korea’s Top Foreign Exchange Bank

The U.S. Treasury Department froze the U.S. assets of North Korea’s Foreign Trade Bank, saying it facilitates transactions linked to the proliferation of weapons of mass destruction.

The company, which is North Korea’s primary foreign exchange bank, “facilitated millions of dollars in transactions” which benefited the country’s premier arms dealer Korea Mining Development Corp., the Treasury Department said today in a statement.

To contact the reporter on this story: Kasia Klimasinska in Washington at kklimasinska@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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