Posted November. 27, 2017 08:22,
Updated November. 27, 2017 08:45
The Chinese government unexpectedly arrested the head of a major company operating cargo ships linking North Korea and China, which the United States had designated as an entity subject to its independent sanctions, a joint investigation by The Dong-A Ilbo and Channel A found on Sunday. Beijing is reportedly conducting far-reaching investigation of all companies engaged in trade with North Korea, as well as Chinese firms and individuals Washington included in the list of entities subject to its independent sanctions since this past summer, and is taking disciplinary action if illegal acts are detected.
According to informed sources on North Korea, the Chinese government arrested a man identified by his last name Jin, head of Dalian Global Unity Shipping, and is probing him in a location other than Dalian. Jin, a Korean Chinese, is an entrepreneur widely known in the field who is almost monopolizing shipping service linking Dalian and North Korea. Since his arrest, the operation of all the vessels linking Dalian and North Korea has been suspended. The measure is reportedly putting heavy pressure on North Korea, with the North’s export to China having been halted.
The U.S. Treasury Department included Dalian Global Unity Shipping in its list of entities subject to sanctions along with Bank of Dandong in late June this year. “The United States is conducting investigation of organizations and individuals that are enlisted for sanctions,” an informed source said. Beijing, which strongly blasted Washington’s independent sanctions against Pyongyang, is now sanctioning its own firms through its own investigation, a move that is naturally drawing attention. As far-reaching investigation is underway, with most Chinese firms doing business with the North put under Beijing’s investigation and several entities having been arrested, North Korean companies centered around Dandong have seen business operation significantly slump.