SOUTH KOREAN MARITIME COMPANY UNDER INVESTIGATION OWNS VESSELS TIED TO SUSPICIOUS OPERATIONS

On 19 June, a report from Kharon says that vessels owned by a South Korean company – oung Sung Global Co Ltd – reportedly under investigation for violating UN sanctions against North Korea have disabled their location transponders in waters known to be hotspots for illicit sanctions evasion activity.  A South Korean official told Yonhap News that Young Sung Global is under investigation due to the alleged transfer of a vessel to North Korean ownership.

https://brief.kharon.com/updates/maritime-firm-under-investigation-owns-vessels-tied-to-suspicious-operations

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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