Korea Taesong Bank (; sometimes called Daesong Bank, Dae-Sung Bank or Taesong General Trading Corporation; in Japan called Chosun Tae Seong-Unhan; Tae-bank, Choson Taesong Unhaeng) is a North Korean financial institution.Michael Breen (author) Kim Jong-Il, Revised and Updated: Kim Jong-il North Korea's Dear Leader 2012 1118153774 "Kim Jong-il: "the Daesong Group, which owns the Daesong Bank and the Vienna-based Golden Star Bank."
The Korea Taesong 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 Yo-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