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Date: 29-Jul-2024 Category: Not Applicable State: Union Government Country: Europe

Council Implementing Decision (CFSP) 2024/2068 of 26 July 2024 implementing Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People’s Republic of Korea

Issued by Council of the European Union · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • Council Implementing Decision (CFSP) 2024/2068 implements Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People’s Republic of Korea. This decision updates the information related to entities subject to restrictive measures, based on updates from the United Nations Security Council (UNSC) Committee established pursuant to UNSC Resolution 1718 (2006).

Key Changes

  • Annex I to Decision (CFSP) 2016/849 is amended to update information regarding specific entities.
  • Entries 29 and 54 under ‘B. Entities’ in Annex I are replaced.
  • Entry 29, National Aerospace Technology Administration (NATA), formerly known as National Aerospace Development Administration (NADA), is identified as being involved in the DPRK’s development of space science and technology, including satellite launches and carrier rockets. Its location is DPRK and the date of UN designation is 2.3.2016.
  • Entry 54, Ministry of National Defence, formerly known as Ministry of the People’s Armed Forces (MPAF), manages the general administrative and logistical needs of the Korean People’s Army. Its aliases include Ministry of National Defense and Ministry of Defence. Its location is Pyongyang, DPRK and the date of UN designation is 22.12.2017.

Impact Analysis

Businesses and Organizations

  • Action Item: Update compliance programs and screening processes to incorporate the updated entity information and ensure ongoing due diligence.

Financial Institutions

  • Action Item: Update KYC/AML procedures and transaction monitoring systems to incorporate the updated entity information and enhance due diligence.

Government Agencies

  • Action Item: Update internal databases and disseminate information to relevant stakeholders; coordinate enforcement efforts.

Key Entities Referenced

Council of the European Union: The governing body responsible for adopting the decision to implement restrictive measures. Democratic People’s Republic of Korea: The country subject to the restrictive measures. National Aerospace Technology Administration (NATA): An entity involved in the DPRK’s development of space science and technology, including satellite launches and carrier rockets. Formerly known as National Aerospace Development Administration (NADA). Ministry of National Defence: Manages the general administrative and logistical needs of the Korean People’s Army. Aliases include Ministry of National Defense and Ministry of Defence; formerly known as Ministry of the People’s Armed Forces (MPAF). United Nations Security Council (UNSC) Committee established pursuant to UNSC Resolution 1718 (2006): The UN committee that provides updates on entities subject to restrictive measures. Council Decision (CFSP) 2016/849: The original Council Decision concerning restrictive measures against the Democratic People’s Republic of Korea, which this implementing decision amends.
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Official Journal EN of the European Union L series 2024/2068 29.7.2024 COUNCIL IMPLEMENTING DECISION (CFSP) 2024/2068 of 26 July 2024 implementing Decision (CFSP) 2016/849 concerning restrictive measures against the Democratic People’s Republic of Korea THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on European Union, and in particular Article 31(2) thereof, Having regard to Council Decision (CFSP) 2016/849 of 27 May 2016 concerning restrictive measures against the Democratic People’s Republic of Korea and repealing Decision 2013/183/CFSP (1), and in particular Article 33(1) thereof, Having regard to the proposal from the High Representative of the Union for Foreign Affairs and Security Policy, Whereas: (1) On 27 May 2016, the Council adopted Decision (CFSP) 2016/849. (2) On 7 March and 15 April 2024, the United Nations Security Council (UNSC) Committee established pursuant to UNSC Resolution 1718 (2006) updated the information relating to two entities subject to restrictive measures. (3) Decision (CFSP) 2016/849 should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 Annex I to Decision (CFSP) 2016/849 is amended in accordance with the Annex to this Decision. Article 2 This Decision shall enter into force on the day following that of its publication in the Official Journal of the European Union. Done at Brussels, 26 July 2024. For the Council The President BÓKA J. (1) OJ L 141, 28.5.2016, p. 79. ELI: http://data.europa.eu/eli/dec_impl/2024/2068/oj 1/2ANNEX In Annex I to Decision (CFSP) 2016/849, under the heading ‘B. Entities’, entries 29 and 54 are replaced by the following: Name Alias Location Date of UN designation Other information ‘29. National Aerospace Technology f.k.a.: National Aerospace DPRK 2.3.2016 NATA is involved in the DPRK’s development of space Administration (NATA) Development Administration; science and technology, including satellite launches and carrier rockets. f.k.a.: NADA 54. Ministry of National Defence Ministry of National Defense; Pyongyang, DPRK 22.12.2017 The Ministry of National Defence manages the general administrative and logistical needs of the Korean People’s Ministry of Defence; Army.’ Ministry of Defense; f.k.a.: Ministry of the People’s Armed Forces (MPAF) 2/2 ELI: http://data.europa.eu/eli/dec_impl/2024/2068/oj EN OJ L, 29.7.2024

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