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China, S. Korea leaders to discuss N. Korea nukes
by Staff Writers
Beijing (AFP) Dec 14, 2017


N. Korea's overseas financial network squeezed by US: report
Seoul (AFP) Dec 13, 2017 - North Korea's intricate overseas financial network is creaking under the strains of Washington's economic screws on the impoverished nuclear armed regime, a research report said.

The United Nations, United States, European Union and several individual countries have slapped multiple sets of economic sanctions on the North for its menacing nuclear and ballistic missile programmes, forcing Pyongyang to come up with illicit ways to evade them.

The North operated a complex offshore financial network to maintain the flow of hard currency, said a report by Washington-based security research group C4ADS and the Sejong Institute in Seoul.

But doing so meant Pyongyang had lost control of its assets, it added.

"By nesting its illicit activity in its overseas networks, North Korea has maintained its access to the international financial system, but its assets are inherently vulnerable," the report said.

The report, citing findings by the US Department of Justice, said a network of China-based firms had raked in billions of dollars for the North Korean regime for years through the coal trade -- with Washington estimating 95 percent of the funds were probably funnelled to the weapons programme.

From 2013 to 2016, four Chinese companies -- Dandong Hongxiang Industrial Development Co. (DHID), Dandong Zhicheng Metallic Material Co. Ltd (DZMM), Dandong Tianfu Trade Co., and Jin-Hou International Holding Co. Ltd. -- accounted for 30 percent of the North's coal exports, the report found.

"During this four-year period, these imports would have provided an estimated $1,331,024,223 to the North Korean military and WMD program," it said.

DZMM -- the top importer of North Korean coal to China from 2014 to 2016 -- followed the general business pattern of "moving coal out of North Korea and moving illegal goods -- including military munitions and items -- into North Korea", it added.

But the North's strategy of offshore finances may backfire in the face of stronger sanctions.

Washington has been filing civil forfeiture complaints against funds held by North Korea-linked companies since September last year and confiscated $84 million from DHID funds across 25 bank accounts and 12 banks alone.

"The Department of Justice's seizures since September 2016 amount to three times what was frozen in 2005 from Banco Delta Asia," the report said.

The US Treasury Department placed restrictions on the Macau-based institution in 2005 under suspicions that it was laundering millions for North Korea. The Macau government subsequently froze roughly fifty accounts held in the bank by Pyongyang.

South Korean President Moon Jae-In will meet with his Chinese counterpart Xi Jinping in Beijing Thursday amid mixed US signals about potential talks to resolve the North Korean nuclear crisis.

Relations between Beijing and Seoul have encountered their own rough patch over the US military's deployment of a powerful anti-missile defence system in the South to counter the North's threats.

Moon hopes to "normalise" ties during the visit, his office has said, after Beijing imposed economic measures against South Korean companies, a move seen as retaliation to the installation of the THAAD (Terminal High Altitude Area Defense) system.

China sees the deployment as a threat to its own security.

Moving past the disagreement has become increasingly important amid growing concern that bellicose rhetoric between Washington and Pyongyang could spark war on the Korean peninsula.

"The highlights to watch of the visit would be whether the two sides (Seoul and Beijing) can start a dialogue and cooperation mechanism on the DPRK (North Korea) nuclear issue," said Zhu Feng, international studies professor at Peking University.

China has long refused to countenance the possibility that the North's Communist regime could collapse.

But a series of nuclear and missile tests combined with pressure from US President Donald Trump has pushed Beijing to reconsider its position and prioritise improving relations with Seoul.

"It is a very uncertain period," Zhu said. "The two sides need high-level dialogues and dialogues between militaries. These dialogues cannot really start without the normalisation of the bilateral relations."

- Possible talks? -

Moon's visit comes after US Secretary of State Rex Tillerson said Washington was ready to talk to North Korea "without preconditions", though it remains determined to force Pyongyang to give up its nuclear arsenal.

China and Russia responded positively to Tillerson's remarks, even after the White House appeared to put his proposal in question by saying Trump's "views on North Korea have not changed."

Beijing has pressed for talks to peacefully resolve the crisis, but there are signals that it has begun to prepare for the possibility of the North's collapse.

Tillerson said Tuesday that US and Chinese officials have discussed scenarios in case the North Korean regime falls, including steps to deal with refugees crossing the border, and how to secure Pyongyang's nuclear weapons.

Washington's top diplomat said these discussions involved him, the US defence secretary and military chief, and senior Chinese officials.

Such discussions were unthinkable just a few months ago.

But China's priority has been to convince the United States and North Korea to hold talks.

Beijing has also urged the US, Japan and South Korea to suspend joint military drills in the region in return for North Korea to halt its nuclear activities -- an idea consistently rejected by Washington and Seoul.

But "Pyongyang can't have its cake and eat it, too," the state-run China Daily warned in an editorial Thursday.

"It cannot expect Washington to engage in direct peace talks with it, while at the same time making such talks more difficult by continuing with its missile launches and nuclear tests."

In Tokyo, UN chief Antonio Guterres warned that the worst outcome would be for the world to "sleepwalk into a war that might have very dramatic circumstances."

- Thaw -

With concerns about the peninsula's stability mounting, South Korea and China issued identically-worded statements last month on their mutual desire to improve relations.

They did not state any specifics, but Beijing has demanded that Seoul formally promise not to deploy any more THAAD launchers and not to join any regional US missile defence system.

On Tuesday, Chinese foreign ministry spokesman Lu Kang said Beijing had reached "some consensus" with Seoul on THAAD.

In a limited sign of improved ties, China's state tourism board approved Seoul-bound group tours from some parts of the country last month.

A business delegation including executives from South Korean giants Samsung, Hyundai and LG, is accompanying Moon on the trip, which began Wednesday and is the president's first state visit to China since he took office in May.

bur-lth-dly/qan

HYUNDAI MOTOR

SAMSUNG ELECTRONICS

NUKEWARS
US, S. Korea 'discuss' military drills amid Olympic worries
Seoul (AFP) Dec 12, 2017
The US military is reportedly in talks with South Korea on the timing of large-scale annual military exercises that always infuriate nuclear-armed Pyongyang and could coincide with next year's Winter Olympics. The Foal Eagle and Key Resolve drills usually start in late February or early March and involve tens of thousands of troops from the two allies, which say they are purely defensive. ... read more

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