North Korea

North Korea, known as the Democratic People’s Republic of Korea, is a sovereign state in East Asia. Its capital of  Pyongyang, is the largest and most populous in the country. The country is separated by South Korea by the heavily fortified  Korean Demilitarized Zone (DMZ). The country considers itself a self-reliant socialist state, holding formal government elections. The Workers Party of Korea (WPA) is currently led by the country’s ruling family. A majority of industries including healthcare, food production, education, and housing, are government-run, and subsidized for families in the country.

The country follows the Songun, “Military First” policy to governance. With over 1.2 million active duty members, the nation has the fourth largest military in the world. It possesses a great deal of nuclear weapons, and the country’s ruler has threatened use on numerous occasions. Human rights violations have been assessed by numerous international organizations, as the country operates re-education and prison camps, which are used to segregate individuals who are viewed as “enemies” of the country.

The government is run as a highly-centralized, one party state. In addition to its constitution the country is governed by the "Ten Principles of the One-Ideology System". The WPK has approximately 3 million members, and operates all facets of the country’s government and political systems. Kim Jung-Un, who is the current leader of the Kim-dynasty is leader of the WPK; he is the first secretary, Supreme Commander of the Army, and Chairman of State Affairs. The Kim-Dynasty has been in power in the country since 1948.

The country possesses nuclear weapons and a stockpile of chemical weapons which are estimated to amount to 2,500–5,000 tons. These weapons contain nerve, blister, blood, and vomiting agents. The country also cultivates and produces chemical weapons which are capable of causing anthrax, smallpox, and cholera. Because of nuclear and test missiles, the country has been  sanctioned under United Nations Security Council resolutions. Shortage of digital command and obsolete equipment, do however hinder the massive military forces in North Korea.

Since the 1940s the country has maintained one of the most closed and centralized economies in the world. Long-term growth is greatly impeded by the lack of transportation, energy, and skilled-labor to meet the country’s economic goals. In 2012, the country’s gross-national income per capita was only $1523 in comparison to that of South Korea, which was $28,430. The country’s economy is heavily centralized, with subsidies in food and housing.

The National Law Review covers details about US and international sanctions against North Korea, international and foreign relations, restrictions on the use of international financial institutions, import and export, CFIUS and merger/acquisition deals. The National Law Review covers the latest stories related to nuclear warfare, government relations, international relations, and how the country’s decisions affect the US and other countries around the world.

Custom text Title Organization
Jun
7
2018
Your Way-Too-Early Guide to North Korean Investment: Big Opportunities, Big Risks, and the Regulatory Guidance to Identify Both Sheppard, Mullin, Richter & Hampton LLP
Mar
15
2018
Travel Ban 3.0 Updated: DOS Waiver Process Jackson Lewis P.C.
Feb
15
2018
OFAC Releases CAATSA Reports to Congressional Committees Squire Patton Boggs (US) LLP
Feb
15
2018
OFAC Announces New North Korea-Related Designations Squire Patton Boggs (US) LLP
Feb
14
2018
EU Amends Restrictive Measures on the Democratic People’s Republic of Korea Squire Patton Boggs (US) LLP
Feb
12
2018
The Hague System for the Registration of International Design Rights Welcomes Russia Sterne, Kessler, Goldstein & Fox P.L.L.C.
Jan
23
2018
North Korea, South Korea and the Olympic Games Squire Patton Boggs (US) LLP
Dec
29
2017
FinCEN Issues Final Rule Further Restricting North Korean Access to the US Financial System Squire Patton Boggs (US) LLP
Nov
10
2017
CBP Issues Guidance on Complying with New Prohibitions on the Use of North Korean Labor and Inputs in Imported Merchandise Faegre Drinker
Nov
8
2017
EU Adopts New Sanctions on North Korea Squire Patton Boggs (US) LLP
Oct
31
2017
Sad Tale of a Trademark Fail Sterne, Kessler, Goldstein & Fox P.L.L.C.
Oct
17
2017
New Executive Order Extends Reach of North Korea Sanctions to Foreign Businesses Wiggin and Dana LLP
Oct
3
2017
Travel Ban, Take 3 Womble Bond Dickinson (US) LLP
Oct
3
2017
Breaking News: President Trump Imposes Travel Restrictions against North Korea, Chad, and Venezuela and Removes Restrictions against Sudan; United States Supreme Court Cancels Oral Arguments in Pending Travel Ban Case Hunton Andrews Kurth
Sep
29
2017
Travel Ban Expires, Replaced by Presidential Proclamation Restricting Travel for Certain Nationals of Chad, Iran, Libya, North Korea, Syria, Venezuela, Yemen, and Somalia Dickinson Wright PLLC
Sep
26
2017
President Trump Orders Enhanced Visa and Travel Restrictions Morgan, Lewis & Bockius LLP
Sep
26
2017
US President Issues Executive Order Imposing Additional Sanctions on North Korea Morgan, Lewis & Bockius LLP
Sep
26
2017
President Trump Replaces Expired Travel Ban With New Restrictions on Eight Countries Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Sep
25
2017
Third Time is the Charm?: New Presidential Proclamation Replaces Expiring Portions of Travel Ban Squire Patton Boggs (US) LLP
Sep
25
2017
Trump Issues Country-Specific Travel Ban Jackson Lewis P.C.
Sep
14
2017
North Korea Sanctions Continue to Intensify Sheppard, Mullin, Richter & Hampton LLP
Aug
1
2017
In the Chaos of (Trade) War, Where Does Your Company Find Peace? Sheppard, Mullin, Richter & Hampton LLP
Jul
26
2017
US Treasury Department Proposes Financial Sanctions Against Chinese Bank to Address North Korea Concerns Squire Patton Boggs (US) LLP
Jul
26
2017
HMRC Publishes Advisory Notice on Money Laundering and Terrorist Financing Controls in Overseas Jurisdictions Squire Patton Boggs (US) LLP
Jun
30
2017
U.S. Treasury Announces First Money Laundering Designation Against Mainland Chinese Bank Holland & Hart LLP
May
25
2017
EU Expands Its Sanctions Against North Korea Squire Patton Boggs (US) LLP
May
16
2017
North Korea Now Suspected in Ransomware Attack Risk and Insurance Management Society, Inc. (RIMS)
Apr
20
2017
EU and UK Sanctions Update: April 2017 K&L Gates
Apr
17
2017
EU Amends North Korea Sanctions Squire Patton Boggs (US) LLP
Apr
17
2017
Congress Introduces North Korea and Iran Sanctions Legislation Squire Patton Boggs (US) LLP
Mar
15
2017
Tensions Heighten on the Korean Peninsula Covington & Burling LLP
Mar
6
2017
EU Removes Five Vessels from its North Korea Sanctions Squire Patton Boggs (US) LLP
Feb
6
2017
EU Implements UN Listings to Its North Korea Sanctions Squire Patton Boggs (US) LLP
Feb
5
2017
South Korea and Japan Announce New Sanctions on North Korea Squire Patton Boggs (US) LLP
Oct
20
2016
UN Security Council Calls for Stricter Enforcement of Sanctions Against North Korea Squire Patton Boggs (US) LLP
 

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