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Daesong Bank

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Native name
  
조선 대성 은행

Industry
  
Bank

Headquarters
  
Segori-dong, Gyongheung St., Potonggang District, Pyongyang, North Korea

Korea Daesong Bank (Korean: 조선 대성 은행; sometimes called Taesong General Trading Corporation; in Japan called Chosun Tae Seong-Unhan; Tae-bank, Choson Taesong Unhaeng; Taesong Bank) is a North Korean financial institution.

Contents

The Korea Daesong Bank is reportedly controlled by Room 39.

The Golden Star Bank, founded as a corporation in Vienna, Austria, was the only North Korean bank in Europe but was closed in 2004, was a subsidiary of the Taesong Bank. Kwon Yong-nok was an auditor of the Golden Star Bank.

"Taesong Bank, which received remittances from Mt. Kumgang tourism, is controlled by Room 39, and is also in charge of the exports of agricultural and fisheries products."

Projects

  • In 1989, it was to jointly develop the area around Mount Kumgang, on the eastern coast of North Korea, as a tourist site with Hyundai.
  • The company has been implicated in the smuggling of arms into and out of North Korea and "Involved in facilitating proliferation financing projects."

    • Members

  • In 1989, Choe Su Gil, president of the Taesong Bank of North Korea and consultant to the Korean Association for the Promotion of Asian Trade.
  • In 2014, Kim Yeo Jong took control of Taesong Bank, the Reunification and Development Bank, and a number of tourism and railway projects
  • In 2014, Yun Tae Hyong, a regional manager in the Russian Far East for the Taesong Bank, defected to Russia.

    • References

    Daesong Bank Wikipedia
    (Text) CC BY-SA