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.

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Aug
1
2017
In the Chaos of (Trade) War, Where Does Your Company Find Peace? Sheppard, Mullin, Richter & Hampton LLP
Sep
14
2017
North Korea Sanctions Continue to Intensify Sheppard, Mullin, Richter & Hampton LLP
Jan
15
2015
The First Law of International Dynamics: Sanctions May Be Transformed But Never Created or Destroyed Sheppard, Mullin, Richter & Hampton LLP
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
Aug
31
2021
Legislatures Can Free App Developers from Platform Providers’ Mandates to Use Their In-App Purchasing Systems Without Violating WTO Principles Sheppard, Mullin, Richter & Hampton LLP
Dec
4
2023
OFAC Sanctions Crypto Mixer Following Allegations of Laundering Funds to North Korea Sheppard, Mullin, Richter & Hampton LLP
Mar
3
2016
The Day of North Korea Sanctions: the UN Imposes the Toughest North Korea Sanctions Yet While OFAC and State Designate More North Korean Entities Sheppard, Mullin, Richter & Hampton LLP
Aug
9
2018
Coal Hard Facts: North Korea Sanctions Remain in Place and Remain a Risk Sheppard, Mullin, Richter & Hampton LLP
Jul
8
2022
Reverse CFIUS? S∩IℲƆ? New Outbound Investment Review Process Becoming More Likely Sheppard, Mullin, Richter & Hampton LLP
Jan
15
2019
New Year Sanctions Roundup: Where Do We Stand? Sheppard, Mullin, Richter & Hampton LLP
Aug
30
2022
In the Interest of National Security – Two New DFARS Rules Reinforce Increased Scrutiny For Chinese-Origin Supply Chains Sheppard, Mullin, Richter & Hampton LLP
Sep
15
2022
OFAC Offers Guidance in the Wake of Tornado Cash Sanctions Dinsmore & Shohl LLP
Apr
27
2022
Ubiquitous and Creative Fraud is Regular Feature of DeFi Womble Bond Dickinson (US) 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
May
24
2022
US Issues Guidance to Companies Warning of Cybersecurity and Sanctions Risks Posed by IT Workers Directed by North Korea Hunton Andrews Kurth
Jun
9
2022
U.S. Issues Guidance to Companies Warning of Cybersecurity and Sanctions Risks Posed by IT Workers Directed by North Korea Hunton Andrews Kurth
Oct
17
2017
New Executive Order Extends Reach of North Korea Sanctions to Foreign Businesses Wiggin and Dana LLP
Feb
12
2018
The Hague System for the Registration of International Design Rights Welcomes Russia Sterne, Kessler, Goldstein & Fox P.L.L.C.
Oct
31
2017
Sad Tale of a Trademark Fail Sterne, Kessler, Goldstein & Fox P.L.L.C.
May
16
2017
North Korea Now Suspected in Ransomware Attack Risk and Insurance Management Society, Inc. (RIMS)
Sep
26
2017
President Trump Replaces Expired Travel Ban With New Restrictions on Eight Countries Ogletree, Deakins, Nash, Smoak & Stewart, P.C.
Jun
13
2023
Florida Governor Signs Law Restricting Investment by Certain Foreign Entities and Individuals Greenberg Traurig, LLP
Jan
9
2015
U.S. Imposes Targeted Sanctions on North Korea – Additional Sanctions Expected Greenberg Traurig, LLP
Sep
26
2017
US President Issues Executive Order Imposing Additional Sanctions on North Korea Morgan, Lewis & Bockius LLP
Sep
26
2017
President Trump Orders Enhanced Visa and Travel Restrictions Morgan, Lewis & Bockius LLP
May
3
2023
DOJ Secures Largest Settlement Payment Yet For U.S. Sanctions Violations Involving North Korea Barnes & Thornburg LLP
Oct
8
2020
New Antidumping Duty Petitions on Thermal Paper From Germany, Japan, Korea and Spain Faegre Drinker
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
Feb
20
2019
New Antidumping Petition on Acetone from Belgium, Korea, Saudi Arabia, Singapore, South Africa and Spain Faegre Drinker
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
Apr
2
2021
AML: HM Treasury Updates Advisory Notice on Money Laundering and Terrorist Financing Controls in Higher-Risk Jurisdictions Katten
Mar
6
2015
Financial Action Task Force Publishes Updated List of Deficient Jurisdictions Katten
Sep
25
2017
Trump Issues Country-Specific Travel Ban Jackson Lewis P.C.
Mar
15
2018
Travel Ban 3.0 Updated: DOS Waiver Process Jackson Lewis P.C.
 

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