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Foreign Trade Bank
The Foreign Trade Bank of the Democratic People's Republic of Korea (Joson Trade Bank) is North Korea's primary foreign exchange bank, and is owned and run by the North Korean government. On March 11, 2013, the United States designated the bank as falling under US executive order 13382, which applies to "proliferators of weapons of mass destruction and their supporters". The order freezes all assets, and prohibits any transactions between US entities and the bank. On May 7, 2013, the state-controlled Bank of China announced that they would stop all dealings with the Foreign Trade Bank. China has in the past been reluctant to sanction North Korea, even though China has been very unsatisfied with North Korea's aggressive stance and pursuit of nuclear weapons. Stopping the dealing with the Foreign Trade Bank is seen as a significant signal by China to put pressure on North Korea. On August 5, 2017 the UN Security Council adopted Resolution 2371 expanding financial sanctions t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of China
The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, replacing the Qing Dynasty's Ta-Ching Government Bank. It has been the second oldest bank in China still in existence after the Bank of Communications, founded in 1908. From its establishment until 1942, it issued banknotes on behalf of the Government along with the "Big Four" banks of the period: the Farmers Bank of China, Bank of Communications and Central Bank of the Republic of China. After the People's Republic was established in 1949, it has become a national commercial and foreign exchange professional bank. Its original central bank designation was carried on by the newly formed People's Bank of China. As of 31 December 2019, it was the second-largest lender in China overall and ninth-largest bank in the world by market capitalizatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations
The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be a centre for harmonizing the actions of nations. It is the world's largest and most familiar international organization. The UN is headquarters of the United Nations, headquartered on extraterritoriality, international territory in New York City, and has other main offices in United Nations Office at Geneva, Geneva, United Nations Office at Nairobi, Nairobi, United Nations Office at Vienna, Vienna, and Peace Palace, The Hague (home to the International Court of Justice). The UN was established after World War II with Dumbarton Oaks Conference, the aim of preventing future world wars, succeeding the League of Nations, which was characterized as ineffective. On 25 April 1945, 50 governments met in San Francisco for United Nations Conference ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of North Korea
The economy of North Korea is a centrally planned economy, following ''Juche'', where the role of market allocation schemes is limited, although increasing. , North Korea continues its basic adherence to a centralized command economy. With a total gross domestic product of $28.500 billion as of 2016, there has been some economic liberalization, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment. Since the 1990s, informal market activity has increased, which the authoritarian regime has tolerated. These markets are referred to as 'Jangmadang' and were formed as a result of the economic collapse during the 1990s, which made the regime unable to distribute food to its people. The collapse of the Eastern Bloc from 1989 to 1992, particularly North Korea's principal source of support, the Soviet Union, forced the North Korean economy to realign its foreign economic relations, including increased economic excha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of External Economic Relations
The Ministry of External Economic Relations is North Korea's foreign trade ministry. The ministry's headquarters are at Kim Il-sung Square in Pyongyang. The current minister is Kim Yong-jae and the vice minister O Ryong-chol. The ministry was established in 2014 when its predecessor, the Ministry of Foreign Trade, fused with the Joint Venture Investment Committee and the State Economic Development Commission to revive the ministry that had been marred by economic sanctions against North Korea. History The Ministry of Foreign Trade was newly established in September 1998 following the adoption of the new 1998 " Kim Il-sung Constitution". It initially oversaw all international economic activities. Some of its tasks were delegated to two organizations founded in 2010 and 2013, respectively: The Joint Venture Investment Committee (JVIC) was established to handle foreign investment and the State Economic Development Commission (SEDC) to manage the Special Economic Zones of North Kore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of The Democratic People's Republic Of Korea
The Central Bank of the Democratic People's Republic of Korea is North Korea's central bank. Established on December 6, 1947, it issues the North Korean wŏn. The Bank is subordinated to the Cabinet of North Korea. Since 2021, the president of the bank is Chae Song-hak. He was preceded by Kim Chon-gyun since 2014. History On February 15, 1946, a central bank of North Korea was announced, which was to be under the control of the Soviet military. However, the bank failed to accomplish its objectives, being unable to meet its costs of operation, and the 100 million wŏn capitalisation was ineffective.McCune, 2007, p. 194. The North Korean Interim People's Committee did not look upon the bank favorably, and chose instead to work through the Farmers' Bank, which also existed at the time. By late 1946, banking functions were consolidated into two main institutions, the Central Bank and Farmer's Bank. In June 1947, around 1,000 million wŏn was concentrated in the Central Bank, allowi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nikkei Asian Review
''Nikkei Asia'', known as ''Nikkei Asian Review'' between 2013 and 2020, is a major Japan-based English-language weekly news magazine focussed on the Asian continent, although it also covers broader international developments. It is headquartered in Tokyo, Japan. ''Nikkei Asia'' was originally launched in 2013. Ownership ''Nikkei Asia'' is owned by Nikkei, Inc., the same Japan-based holding company that also owns the London-based ''Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...''. Because ''Nikkei Asia'' and the ''Financial Times'' are sister publications, some ''Financial Times'' journalists are seconded to ''Nikkei Asia'' on a rotating, two-year basis. ''Nikkei Asia'' calls itself the "voice of the Asian century". References External links * Magazin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Front Organization
A front organization is any entity set up by and controlled by another organization, such as intelligence agencies, organized crime groups, terrorist organizations, secret societies, banned organizations, religious or political groups, advocacy groups, or corporations. Front organizations can act for the parent group without the actions being attributed to the parent group, thereby allowing them to hide certain activities from the authorities or the public. Front organizations that appear to be independent voluntary associations or charitable organizations are called front groups. In the business world, front organizations such as front companies or shell corporations are used to shield the parent company from legal liability. In international relations, a puppet state is a state which acts as a front (or surrogate) for another state. Intelligence agencies Intelligence agencies use front organizations to provide "cover", plausible occupations and means of income, for their covert ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Security Council Resolution 2094
United Nations Security Council resolution 2094, adopted unanimously on March 7, 2013, after recalling all previous relevant resolutions on the situation concerning North Korea, including resolutions 825 (1993), 1540 (2004), 1695 (2006), 1718 (2006), 1874 (2009), and 2087 (2013), the Council condemned the Democratic People's Republic of Korea's third nuclear test. Furthermore, it increased the power of other nations to enforce these sanctions. See also * 2013 Korean crisis * List of United Nations Security Council Resolutions 2001 to 2100 This is a list of United Nations Security Council Resolutions 2001 to 2100 adopted between 28 July 2011 and 25 April 2013. See also * Lists of United Nations Security Council resolutions * List of United Nations Security Council Resolutions ... (2011–present) References External linksText of the Resolution at undocs.org {{Nuclear program of North Korea 2013 United Nations Security Council resolutions United Nations Security ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Nations Security Council Resolution 2371
The United Nations Security Council unanimously adopted Resolution 2371 on August 5, 2017, with approval of all the five permanent members and the ten non-permanent members in response to North Korea’s July 2017 missile tests. The resolution tightened economic sanctions for the 6th time, since they were first imposed in 2006, when North Korea had its first nuclear test. The new restrictions ban purchases of North Korean coal, iron, lead and seafood (the country’s main exports). According to some estimates, this will deprive the regime of $1 billion a year—a third of its foreign earnings. The sanctions also prohibit governments around the world from admitting any more North Korean workers, as the regime pockets most of their wages. Background Before adopting this resolution, North Korea had conducted 14 missile tests in 2017, advancing its capabilities to eventually deliver a nuclear warhead. The tests in July 2017 were of intercontinental ballistic missile An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UN Security Council
The United Nations Security Council (UNSC) is one of the six principal organs of the United Nations (UN) and is charged with ensuring international peace and security, recommending the admission of new UN members to the General Assembly, and approving any changes to the UN Charter. Its powers include establishing peacekeeping operations, enacting international sanctions, and authorizing military action. The UNSC is the only UN body with the authority to issue binding resolutions on member states. Like the UN as a whole, the Security Council was created after World War II to address the failings of the League of Nations in maintaining world peace. It held its first session on 17 January 1946 but was largely paralyzed in the following decades by the Cold War between the United States and the Soviet Union (and their allies). Nevertheless, it authorized military interventions in the Korean War and the Congo Crisis and peacekeeping missions in Cyprus, West New Guinea, and the Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Order
In the United States, an executive order is a directive by the president of the United States that manages operations of the federal government. The legal or constitutional basis for executive orders has multiple sources. Article Two of the United States Constitution gives presidents broad executive and enforcement authority to use their discretion to determine how to enforce the law or to otherwise manage the resources and staff of the executive branch. The ability to make such orders is also based on expressed or implied Acts of Congress that delegate to the president some degree of discretionary power (delegated legislation).John Contrubis, '' Executive Orders and Proclamations'', CRS Report for Congress #95-722A, March 9, 1999, Pp. 1-2 The vast majority of executive orders are proposed by federal agencies before being issued by the president. Like both legislative statutes and the regulations promulgated by government agencies, executive orders are subject to judicial r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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