Tanchon Commercial Bank (formerly called Changgwang Credit Bank;[1][2] possibly called Danchon Bank) is a North Korean bank.[3] It was originally opened in August 1986.[4]
History
Tanchon Bank has about thirty employees and has regional offices specializing in weapon sales in the Middle East, Myanmar, and Africa.[5]
According to a Business Insider article, it is the financial institution used "to repatriate and hold foreign currency accounts" and under the control of the Ministry of Industry.[6]
The bank's purpose was to handle transactions concerning Yongaksan Trading Company and as a fund manager for the Second Economic Committee.[4] At one time, the bank's leader was Maeng Bong-shik.[4]
The bank's address is Saemul 1-Dong Pyongchon District, Pyongyang, North Korea.
Mun Chong-chol is a Tanchon Commercial Bank representative.[7]
See also
References
- ^ Glenn Kessler (June 9, 2007). "U.S. Alleges North Korea Is Misusing Aid for Poor". The Washington Post.
- ^ Joe Litt & Park Hyun Min (2008-01-15). "Bankruptcy of North Korean Foreign Currency Management System Due to "Royal Court" Economy". Daily NK. Retrieved 12 September 2017.
- ^ "Sanctions List Search". US Department of the Treasury. Retrieved 13 September 2017.
- ^ a b c Korea North Doing Business for Everyone Guide: Practical Information and Contacts. Intl Business Pubns USA. 2012. p. 68. ISBN 1438772475.
- ^ Kim Kwang Jin. "The Defector's Tale: Inside North Korea's Secret Economy". World Affairs. Archived from the original on October 20, 2011. Retrieved 12 September 2017.
- ^ "How North Korea uses slaves to get around trade sanctions". Business Insider. 11 July 2017. Retrieved 12 September 2017.
- ^ "Sanctions List Search - Mun". US Treasury. Retrieved 13 September 2017.
