Guidance

Financial sanctions, Democratic People’s Republic of Korea

The Democratic People’s Republic of Korea (DPRK) is subject to UK financial sanctions regime. This document contains a current list of designated persons.

• From: HM Treasury and Office of Financial Sanctions Implementation
• Published: 23 April 2013
• Last updated: 20 September 2024 — See all updates

Documents

Current list of designated persons: Democratic People's Republic of Korea

PDF, 241 KB, 27 pages

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HM Treasury Notice, DPRK, 20/09/2024

PDF, 127 KB, 4 pages

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HM Treasury Notice, DPRK, 17/05/2024

PDF, 185 KB, 4 pages

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HM Treasury Notice, DPRK, 16/04/2024

PDF, 134 KB, 5 pages

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HM Treasury Notice, DPRK, 11/03/2024

PDF, 250 KB, 4 pages

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HM Treasury Notice, DPRK, 08/01/2024

PDF, 249 KB, 4 pages

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HM Treasury Notice, DPRK, 21/08/2023

PDF, 152 KB, 6 pages

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HM Treasury Notice, DPRK, 03/07/2023

PDF, 163 KB, 7 pages

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HM Treasury Notice, DPRK, 11/11/2022

PDF, 105 KB, 4 pages

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HM Treasury Notice, DPRK, 16/09/2022

PDF, 107 KB, 4 pages

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Latest HM Treasury Notice, DPRK, 09/08/2022

PDF, 104 KB, 4 pages

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HM Treasury Notice, DPRK, 02/08/2022

PDF, 236 KB, 14 pages

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HM Treasury Notice, DPRK, 07/07/2022

PDF, 107 KB, 4 pages

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HM Treasury Notice, DPRK, 04/03/2022

PDF, 121 KB, 5 pages

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HM Treasury Notice, DPRK, 03/03/2022

PDF, 171 KB, 10 pages

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HM Treasury notice, DPRK, 16/02/2022

PDF, 136 KB, 5 pages

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HM Treasury notice, DPRK, 21/01/2021

PDF, 115 KB, 5 pages

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HM Treasury notice, DPRK, 19/01/2021

PDF, 138 KB, 7 pages

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Details

The Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 ensure sanctions relating to DPRK are implemented effectively after the UK leaves the EU.

Context

This sanctions regime gives effect to the UK’s obligations under United Nations Security Council Resolution 1718 (2006) and further resolutions that extended its scope.

It aims to restrict the ability of the DPRK to carry on banned programmes, promoting the abandonment by the DPRK of banned programmes and the decommissioning of the DPRK’s banned weapons. It also aims to promote peace, security and stability on the Korean peninsula.

The regulations impose asset freezes as well as sectoral financial sanctions measures.

Some sanctions targets listed under the DPRK regime are known to use ‘shell’ or ‘front’ companies to disguise the ultimate destination of goods, funds and services.

You need to ensure you’re not working with those subject to sanctions through these companies.

Restrictions

DPRK targets are on OFSI’s financial sanctions consolidated list and are subject to an asset freeze. You can find information about asset freezes in OFSI’s general guidance.

This regime also includes sectoral financial sanctions, which contain both restrictions and requirements. These include those placed on:

• the sale or purchase of bonds

• DPRK credit and financial institutions including branches, subsidiaries and representative offices)

• UK credit and financial institutions from dealing with DPRK credit and financial institutions (including branches, subsidiaries and representative offices)

• representative offices belonging to designated persons

• business arrangements with designated persons

• financial support for trade

• investment and commercial activities

• bank accounts for DPRK diplomats and diplomatic missions

• leasing or, otherwise making available, real property.

OFSI can authorise some transactions under legal grounds which are set out in the relevant regulations for this regime. Please review these before contacting OFSI.

Given the complexities and risks involved in operating in this country, OFSI recommends you discuss any proposed activities in DPRK with any relevant financial and other institution(s) beforehand. OFSI also recommends that you seek independent legal advice for such activities.

UN regulations

The UN adopted Resolution 1718 (2006), condemning DPRK’s nuclear test on 9 October 2006 and requiring all UN member states to apply restrictive measures against the DPRK.

Further resolutions have been imposed on the DPRK to extend these restrictive measures. These are available online.

UK regulations

• The Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019
• The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2019
• The Sanctions (EU Exit) (Miscellaneous Amendments) Regulations 2020
• The Sanctions (EU Exit) (Miscellaneous Amendments) (No.3) Regulations 2020
• The Democratic People’s Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 5) Regulations 20172017 No. 999 (applicable prior to 11:00pm, 31 December 2020)

EU regulations (applicable prior to 11:00pm, 31 December 2020)

Council Regulation 2017/1509

Find out more about UK sanctions on DPRK

Published 23 April 2013
Last updated 20 September 2024 + show all updates

1. 20 September 2024

   HM Treasury Notice, DPRK, 20/09/2024 added

2. 17 May 2024

   HM Treasury Notice, DPRK, 17/05/2024 added.

3. 16 April 2024

   HM Treasury Notice, DPRK, 16/04/2024 added

4. 11 March 2024

   HM Treasury Notice, DPRK, 11/03/2024 added.

5. 8 January 2024

   HM Treasury Notice, DPRK, 08/01/2024 added.

6. 21 August 2023

   HM Treasury Notice, DPRK, 21/08/2023 added

7. 3 July 2023

   HM Treasury Notice, DPRK, 03/07/2023 added

8. 11 November 2022

   Updated with HM Treasury Notice, DPRK, 11/11/2022

9. 16 September 2022

   HM Treasury Notice, DPRK, 16/09/2022 added

10. 9 August 2022

    Updated with 'Latest HM Treasury Notice, DPRK, 09/08/2022'

11. 2 August 2022

    Updated with HM Treasury Notice, Democratic People's Republic of Korea, 02/08/2022

12. 7 July 2022

    Updated with HM Treasury Notice, Belarus, 07/07/2022

13. 4 March 2022

    Updated with 'Latest HM Treasury Notice, DPRK, 04/03/2022'

14. 3 March 2022

    Updated with 'Latest HM Treasury Notice, DPRK, 03/03/2022'.

15. 16 February 2022

    Updated with 'Latest HM Treasury notice, DPRK, 16/02/2022'.

16. 21 January 2021

    Updated with 'Latest HM Treasury notice, DPRK, 21/01/2021'

17. 19 January 2021

    Latest HM Treasury notice, DPRK, 19/01/2021

18. 31 December 2020

    Updated to reflect regime coming into force under the Sanctions Act

19. 18 December 2020

    Updated with 'Latest HM Treasury notice, 18/12/2020, North Korea (Democratic People’s Republic of Korea)'

20. 3 August 2020

    Updated with 'Latest HM Treasury notice, 03/08/2020, North Korea (Democratic People’s Republic of Korea) (Reg 2020/1129)'

21. 10 July 2020

    Updated with 'Latest HM Treasury notice, 10/07/2020, North Korea (Democratic People’s Republic of Korea) (Correction)'

22. 4 June 2020

    Updated with 'Latest HM Treasury notice, 04/06/2020, North Korea (Democratic People’s Republic of Korea) (Reg 2020/730'

23. 18 July 2019

    Updated with 'Latest HM Treasury Notice, 18/07/2019, North Korea (Democratic People’s Republic of Korea) (Reg 2019/1207)'

24. 24 January 2019

    Updated with 'Latest HM Treasury notice, 23/01/2019, North Korea (Democratic People’s Republic of Korea) (Reg 2019/93)'.

25. 23 January 2019

    Updated with 'Latest HM Treasury notice, 23/01/2019, North Korea (Democratic People’s Republic of Korea) (Reg 2019/93)'.

26. 8 November 2018

    Updated with 'latest HM Treasury Notice 08/11/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/1654)'.

27. 26 October 2018

    Updated with 'latest HM Treasury Notice 26/10/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/1606)'.

28. 17 October 2018

    Updated with 'latest HM Treasury Notice 17/010/2018, North Korea (Democratic People’s Republic of Korea)'.

29. 14 September 2018

    Updated 'Latest HM Treasury notice 14/09/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/1231)'.

30. 31 July 2018

    Updated with latest HM Treasury notice – 31/07/2018 North Korea (Democratic People’s Republic of Korea) (Reg 2018/1074).

31. 18 July 2018

    Updated with 'latest HM Treasury Notice 18/07/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/1009);.

32. 4 June 2018

    Updated with latest HM Treasury Notice 04/06/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/814).

33. 1 June 2018

    Updated with latest HM Treasury notice 01/06/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/714)

34. 20 April 2018

    Updated with latest HM Treasury Notice 20/04/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/602)

35. 10 April 2018

    Updated with latest HM Treasury notice 10/04/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/548)

36. 5 April 2018

    Updated with latest HM Treasury notice 05/04/2018, North Korea (Democratic People’s Republic of Korea)

37. 6 March 2018

    Updated with latest HM Treasury notice, 06/03/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/324)

38. 5 March 2018

    Page updated to provide more clarity.

39. 28 February 2018

    Updated with latest HM Treasury notice, 28/02/2018, North Korea (People’s Democratic Republic of Korea) (Reg 2018/285)

40. 26 February 2018

    Updated with latest HM Treasury notice, 26/02/2018, North Korea (People’s Democratic Republic of Korea)

41. 23 January 2018

    Updated with latest HM Treasury notice, 23/01/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/87)

42. 15 January 2018

    Updated with latest HM Treasury notice 15/01/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/53)

43. 9 January 2018

    Updated with latest HM Treasury notice, 09/01/2018, North Korea (Democratic People’s Republic of Korea) (Reg 2018/12)

44. 3 January 2018

    Updated with latest HM Treasury Notice, 03/01/2018, North Korea (Democratic People’s Republic of Korea)

45. 27 December 2017

    Updated with latest HM Treasury notice, 27/12/2017, North Korea (Democratic People’s Republic of Korea)

46. 11 December 2017

    Updated link to Council Regulation

47. 19 October 2017

    Updated with latest HM Treasury notice, 19/10/2017, North Korea (Democratic People’s Republic of Korea) (Reg 2017/1897)

48. 17 October 2017

    Updated with latest HM Treasury notice, 17/10/2017, North Korea (Democratic People’s Republic of Korea) (Reg 2017/1859)

49. 29 September 2017

    Updated with latest HM Treasury notice 29/09/2017, North Korea (Democratic People’s Republic of Korea) and updated UK and EU regulations information.

50. 18 September 2017

    Updated with latest HM Treasury notice 18/09/2017, North Korea (Democratic People’s Republic of Korea), (Reg 2017/1568)

51. 15 September 2017

    Updated with latest HM Treasury notice 15/09/2017 North Korea (Democratic People’s Republic of Korea) (Reg 2017_1509).

52. 12 September 2017

    Updated with latest HM Treasury Notice, Democratic People’s Republic of Korea, 12/09/2017

53. 11 August 2017

    Updated with latest HM Treasury notice, 11/08/2017, DPRK (Reg 2017/1457)

54. 7 August 2017

    Updated with latest HM Treasury Notice 07/08/2017, Democratic People’s Republic of North Korea

55. 19 July 2017

    Updated with new notice 19/07/2017, Democratic People’s Republic of North Korea (Reg 2017/1330)

56. 16 June 2017

    Updated with latest HM Treasury notice 16/06/2017 Democratic People’s Republic of Korea (Reg 2017/993)

57. 12 June 2017

    Updated with latest HM Treasury Notice, 12/06/2017, Democratic People’s Republic of North Korea (Reg 2017/970)

58. 5 June 2017

    Updated with latest HM Treasury notice 05/06/2017 Democratic People’s Republic of Korea

59. 7 April 2017

    Updated with latest HM Treasury Notice, 07/04/2017, Democratic People’s Republic of North Korea (Reg 2017/661)

60. 4 April 2017

    Updated 'Current UK regulations' to include 01.03.2017 The Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2017 ( S.I.2017/218)

61. 1 March 2017

    Updated with Latest HM Treasury notice, 01/03/2017, Democratic People’s Republic of Korea (Reg 2017/330)

62. 18 January 2017

    Updated with: HM Treasury notice, 18/01/2017, North Korea (Reg 2017/80)

63. 9 December 2016

    Updated with: HM Treasury notice, 09/12/2016, Democratic People’s Republic of Korea (Reg 2016/2215)

64. 15 August 2016

    Page information presentation updated (how we link to EU regulations) - no new notice

65. 16 June 2016

    Updated with link to new Statutory Instrument that implements notice 2016/780 published on 09.06.2016

66. 10 June 2016

    Updated due to Notice

67. 2 June 2016

    Updated with: OFSI notice, 01/06/2016

68. 20 May 2016

    Updated with: Regulation No 2016/780 and link to regulations (S.I. 2016/578)

69. 20 May 2016

    Updated with OFSI guidance on Article 5a of Council Regulation (EC) 329/2007

70. 6 May 2016

    Updated with 03.05.2016 Council Regulation (EU) No 2016/682 Notice

71. 28 April 2016

    Updated list due to Notice - 28.04.2016 Commission Implementing Regulation (EU) No 2016/659

72. 15 April 2016

    Updated list due to Notice 2016/569

73. 7 March 2016

    Updated with latest notice and links to regulatory guidance

74. 3 July 2015

    New notice (Reg 2015/1062)

75. 17 October 2014

    Updated with latest notice Democratic People’s Republic of Korea (Reg 1059/2014)

76. 17 April 2014

    added Latest HM Treasury Notice, 17/04/2014 Democratic People’s Republic of Korea (Reg 386/2014)

77. 22 August 2013

    removed 27.04.2011 The Democratic People’s Republic of Korea (Asset-Freezing) Regulations 2011 (SI 2011/1094)

78. 22 August 2013

    added 16.08.2013 The Democratic People’s Republic of Korea (European Union Financial Sanctions) Regulations 2013 (S.I. 2013/1877)

79. 24 July 2013

    added Latest HM Treasury Notice, 24.07.2013 Democratic People’s Republic of Korea (Reg 696/2013)

80. 23 April 2013

    First published.