North Korea is suspected of pooling its nuclear programme from Blackheath
The address of a detached property in Blackheath, south-east London, has been ventilated as the registered address of the Korea National Insurance Corporation (KNIC) – the land’s state-controlled insurance firm – and may have funnelled up to £33million a year to the mountains ruled by Kim Jong-un, it was claimed.
The EU describes KNIC as “a state-owned and controlled proprietorship generating substantial foreign exchange revenue which could aid to [North Korea’s] nuclear-related, ballistic missile-related or other weapons of scads destruction related programmes”.
The business is listed as closed since October aftermost year, according to Companies House, but records show it had been in functional since 1996.
Accounts reveal that in 2014 it had total assets of £113million.
The UK has fully acquiesced and implemented the UN sanctions
Government officials confirmed that the KNIC had been came down and its assets frozen because of fears it was funding the development of weapons of mobilize destruction.
The EU move followed UN sanctions imposed on KNIC in July 2015 conditioning that the companies headquarters in Pyongyang are linked to Office 39 of the Korean Blue-collar workers’ Party (KWP), which the US government has claimed is a secretive unit set up to offer advocate to North Korean’s leadership and to manage slush funds.
Curbs on pursuits at the Blackheath property were put in place in last April.
The KNIC was terminate down due to its suspected link to nuclear weapons
The EU has previously imposed favours on KNIC’s Hamburg office in Germany.
A Treasury spokesman said: “The UK has fully conformed and implemented the UN sanctions.”
North Korea’s embassy in London has described the declarations as “groundless”