U.S. sanctions 8 North Korean nationals, 2 entities for money laundering
Published: 05 Nov. 2025, 11:52
Updated: 05 Nov. 2025, 12:10
![Binary code is seen on a screen against a North Korean flag in this illustration on Nov. 1, 2017. [REUTERS/YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/11/05/f9c7887f-c0bf-423b-aa60-c88e11a2e55c.jpg)
Binary code is seen on a screen against a North Korean flag in this illustration on Nov. 1, 2017. [REUTERS/YONHAP]
WASHINGTON — The U.S. Treasury Department on Tuesday sanctioned eight North Korean nationals and two North Korea-based entities for laundering illicit funds from cybercrime, including cryptocurrency theft, as Washington ramps up pressure on Pyongyang following the failure of a summit between U.S. President Donald Trump and North Korean leader Kim Jong-un to materialize.
The move follows a U.S. State Department request to the United Nations Security Council Sanctions Committee on North Korea to blacklist seven foreign vessels accused of helping North Korea export coal and iron to China in violation of international sanctions.
![North Korean leader Kim Jong-un oversaw a joint strike drill involving long-range artillery and missile systems on May 8, the Korean Central News Agency (KCNA) reported May 9. [KCNA]](https://koreajoongangdaily.joins.com/data/photo/2025/11/05/6f0fcca9-371a-48be-b78c-7fbdfa9264c2.jpg)
North Korean leader Kim Jong-un oversaw a joint strike drill involving long-range artillery and missile systems on May 8, the Korean Central News Agency (KCNA) reported May 9. [KCNA]
The Treasury’s Office of Foreign Assets Control said the individuals and entities were involved in schemes to funnel proceeds from cyberattacks and fraudulent overseas IT operations back to North Korea.
Among those singled out were Jang Kuk-chol and Ho Jong-son, who allegedly managed digital assets worth $5.3 million, including cryptocurrency linked to North Korean ransomware groups previously known to target the United States.
The Korea Mangyongdae Computer Technology and its head, U Yong-su, were also sanctioned. The company reportedly operated IT worker dispatch units in Shenyang and Dandong, China. Ryujong Credit Bank was blacklisted for financing sanctions-evasion activities.
Other individuals — Ho Yong-chol, Han Hong-gil, Jong Sung-hyok, Choe Chun-pom and Ri Jin-hyok — were identified as representatives of sanctioned North Korean banks operating in China and Russia who helped transfer illicit funds.
![A 2018 image released by the U.S. State Department shows North Korean vessels engaging in illicit ship-to-ship transfers. [U.S. DEPARTMENT OF STATE]](https://koreajoongangdaily.joins.com/data/photo/2025/11/05/3ea224ea-da1e-4a25-8d10-c8981cf2ede5.jpg)
A 2018 image released by the U.S. State Department shows North Korean vessels engaging in illicit ship-to-ship transfers. [U.S. DEPARTMENT OF STATE]
The sanctions freeze all U.S.-based assets held by the identified parties and prohibit Americans from conducting transactions with them.
According to the Treasury, North Korea-linked cybercriminals have stolen more than $3 billion globally over the past three years, primarily through cryptocurrency theft using sophisticated malware.
A State Department official said the request for UN sanctions on vessels began in the spring and was not directly linked to the breakdown in U.S.-North Korea summit talks.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KANG TAE-HWA [[email protected]]
with the Korea JoongAng Daily
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