Tanchon Commercial Bank (formerly called Changgwang Credit Bank;
possibly called Danchon Bank) is a
North Korean bank.
It was originally opened in August 1986.
History
Tanchon Bank has about thirty employees and has regional offices specializing in weapon sales in the
Middle East,
Myanmar
Myanmar, ; UK pronunciations: US pronunciations incl. . Note: Wikipedia's IPA conventions require indicating /r/ even in British English although only some British English speakers pronounce r at the end of syllables. As John C. Wells, Joh ...
, and
Africa.
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 A Ministry of Trade and Industry, Ministry of Commerce, Ministry of Commerce and Industry or variations is a ministry that is concerned with a nation's trade, industry and commerce.
Notable examples are:
List
*Algeria: Ministry of Industry and Mi ...
.
The bank's purpose was to handle transactions concerning
Yongaksan Trading Company and as a fund manager for the
Second Economic Committee
The second (symbol: s) is the unit of time in the International System of Units (SI), historically defined as of a day – this factor derived from the division of the day first into 24 hours, then to 60 minutes and finally to 60 seconds eac ...
.
At one time, the bank's leader was
Maeng Bong-shik.
The bank's address is Saemul 1-Dong Pyongchon District, Pyongyang, North Korea.
Mun Chong-chol is a Tanchon Commercial Bank representative.
See also
*
List of banks in North Korea
References
Banks of North Korea
{{NorthKorea-company-stub