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| Type | Company | [sources] | |||
|---|---|---|---|---|---|
| Name | Korea National Insurance Corporation | [sources] | |||
| Other name | KNIC · Korea Foreign Insurance Company · Korea General Insurance Company · Korean National Insurance Company · Polestar Insurance Company · 4 more... | [sources] | |||
| Incorporation date | not available | [sources] | |||
| Jurisdiction | not available | [sources] | |||
| Country | North Korea | [sources] | |||
| Registration number | not available | [sources] | |||
| Description | The Korean National Insurance Company is a DPRK financial and insurance company, which provided fishing rights and insurance policies to foreign vessels. To disguise its operations, KNIC utilizes the identities of its front companies. Its representativeness often operate under diplomatic cover at embassies of the DPRK. | [sources] | |||
| Phone | +850 2 18111/222 Ext:3418024 · +850 2 3814410 | [sources] | |||
| Address | Central District, Pyongyang, North Korea · KNIC Building, Central District Pyongyang | [sources] | |||
| Source link | www.nknews.org | [sources] | |||
| Last changed | Last checked | First seen | |||
Figure 5 on p. 77 of the UN Panel of Experts February 2016 report indicates that The Korea National Insurance Corporation and Korea Shipowners' Protection and Indemnity Association are the same entity. According to Paragraph 136 (p. 54) of the UN Panel of Experts September 2023 report, KNIC also operates under the names of its front/subordinate companies, including Rainbow Intermediaries, Samhae Insurance Corporation, and Polestar Insurance Company.
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| Employees | ||||
|---|---|---|---|---|
| Employee | Role | Start date | End date | |
| Jon Hyon Chol | Representative in Pakistan (unconfirmed) | - | - | |
| Choe Myong Chol | Representative in Pakistan (unconfirmed) | - | - | |
| Kim Yong Jin | Representative in Nigeria (unconfirmed) | - | - | |
| Sin Jun Chol | Representative in the Russian Federation (unconfirmed) | - | - | |
| Linked from | ||||
|---|---|---|---|---|
| Subject | Role | Start date | End date | |
| North East Asia Bank | Associated | - | - | |
| Polestar Insurance Company | Polestar Insurance is a front or subordinate company of the Korean National Insurance Company (KNIC) | - | - | |
| Rainbow Intermediaries | Rainbow Intermediaries is a front or subordinate company of the Korean National Insurance Company (KNIC) | - | - | |
| Li Xianzhu | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| Dandong Hongxiang Industrial Development Co. Ltd. | Joint venture partner | - | - | |
| Samhae Insurance Corporation | Samhae Insurance is a front or subordinate company of the Korean National Insurance Company (KNIC) | - | - | |
| Ocean Maritime Management Company, Limited | Linked | - | - | |
| Chinpo Shipping Co. Pte. Ltd. | Linked | - | - | |
| Linked to | ||||
|---|---|---|---|---|
| Object | Role | Start date | End date | |
| Sechuwariis Development Foundation | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| Fountain Court Partners | Assisted KNIC in recovering debts | |||
| Somitel Ventures Enterprise | Facilitates KNIC’s activities in Africa, including through cryptocurrency transactions on KNIC’s behalf | - | ||
| Integ Partners | Assisted KNIC in recovering debts | |||
| Universial Insurance PLC | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| Liaoning Hongbao Industry Development Co. Ltd. Liujing Restaurant | The management of Liaoning was "related" to Korea National Insurance Corporation | - | - | |
| Millbank Insurance Brokers Ltd. | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| Air Koryo | Insurer | - | - | |
| QuickLink Insurance Brokers Ltd. | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| New Elements Holdings Co. Ltd. | Partnered with or knowingly assisted KNIC in developing business opportunities, attempting to collect money, and/or facilitating financial transfers of funds to KNIC headquarters’ control | |||
| Premium Broking House | Assisted KNIC in recovering debts | |||
| BK & Associes | Assisted KNIC in recovering debts | |||
| Liaoning Hongbao Industry Development Co. Ltd. | Shareholder of Liaoning | - | - | |