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
Sep
28
2016
U.S. Department of Justice and OFAC Take Action Against Chinese Network of Alleged Sanctions Evaders Holland & Hart LLP
Sep
16
2016
Trade Talk: Week in Review (6-11 September 2016): JASTA; North Korea Nuclear Test; TPP Support Lack Squire Patton Boggs (US) LLP
Sep
12
2016
Congress Focuses on Iran, Syria, North Korea and Cyber Security, Funding Federal Government and Possibly Reconciling Defense Authorization Measure Squire Patton Boggs (US) LLP
Aug
23
2016
Administration Imposes Economic Sanctions Against North Korean Regime Squire Patton Boggs (US) LLP
Jul
13
2016
North Korea Sanctions, TTIP Negotiation: Trade Talk Week in Review Squire Patton Boggs (US) LLP
Jun
14
2016
U.S. Treasury’s 311 Action Against North Korea Intensifies Pressure on China Holland & Hart LLP
Jun
7
2016
Trade Talk – North Korea, Money Laundering, TPP (31 May – 3 June) Squire Patton Boggs (US) LLP
May
24
2016
EU Introduces New Sanctions Against North Korea Following Those That Were Announced by the UN Security Council Last Month Squire Patton Boggs (US) LLP
May
19
2016
U.S. Treasury Facilitates Trade with Burma, but Money Laundering and North Korean Risks Remain Holland & Hart LLP
Mar
22
2016
Increased Sanctions on North Korea Focus on China and Russia Holland & Hart 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
Feb
22
2016
U.S. President Announces Upcoming Trips to Cuba, Argentina, Vietnam and Laos Squire Patton Boggs (US) LLP
Mar
6
2015
Financial Action Task Force Publishes Updated List of Deficient Jurisdictions Katten
Jan
15
2015
The First Law of International Dynamics: Sanctions May Be Transformed But Never Created or Destroyed Sheppard, Mullin, Richter & Hampton LLP
Jan
9
2015
U.S. Imposes Targeted Sanctions on North Korea – Additional Sanctions Expected Greenberg Traurig, LLP
 

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