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Australia’s North Korea Sanctions Put Asset Dealings Under Permit Rules

The amendment took effect Oct. 23. DFAT says the overseas IT work scheme supports Pyongyang’s weapons programs.

Updated 2 min read
Staff enter Australia's Department of Foreign Affairs and Trade headquarters in Canberra on an overcast morning (AI-generated image / EconoTimes)
Staff enter Australia's Department of Foreign Affairs and Trade headquarters in Canberra on an overcast morning (AI-generated image / EconoTimes)

Australia’s sanctions on two North Korean men and two companies impose permit requirements on dealings with their assets, as Canberra targets an overseas IT work scheme that the Department of Foreign Affairs and Trade (DFAT) says supports Pyongyang’s weapons programs.

The amendment names YU Pu Ung, SIM Hyon Sop, Korea Mangyondae Computer Technology Company and Chinyong Information Technology Cooperation Company. Foreign Minister Penny Wong signed it Oct. 20; it was registered Oct. 22 and took effect Oct. 23. The measure bars the men from entering or remaining in Australia.

DFAT says the listed parties help North Korean IT workers obtain overseas jobs using false national identities. The department says income from the scheme supports North Korea’s nuclear weapons and ballistic missile programs and that the activity creates cybersecurity risks for businesses.

The department says the scheme violates United Nations (U.N.) Security Council resolutions restricting North Korean labor exports. DFAT also said the listings draw on findings by the Multilateral Sanctions Monitoring Team and were coordinated with international partners, including the European Union.

Under Australia’s Autonomous Sanctions Regulations 2011, a permit is required to deal with an asset owned or controlled by a listed party, or to make an asset available to a listed party or for that party’s benefit.

EconoTimes previously reported on the sanctions and the parties named by Australia.

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