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SINGAPORE – A director of three companies supplying luxury goods to North Korea was jailed for three weeks on Monday (October 12).
The three Chong Hock Yen companies, SCN Singapore, Sindok Trading and Laurich International, all in the wholesale trade business, were fined $ 120,000, $ 10,000 and $ 10,000, respectively.
The three had supplied luxury goods to four entities in North Korea: a department store chain called Bugsae Shop, Korea Jangsaeng Trading Corporation (Pyongyang), MG Corporation, and New Hope Joint Venture Corporation (Pyongyang). These items include perfumes, cosmetics, and watches.
Most of the items were supplied by SCN to Bugsae Shop, which was owned by Li Ik, a North Korean. Chong, 60, supplied the products by air and sea through China, and by hand at airports, 43 times. He knew he was violating the 2010 UN Regulations (Sanction – Democratic People’s Republic of Korea).
Payments to Chong companies were made through front companies incorporated in various countries.
Between late 2014 and early 2017, Li Hyon, Li Ik’s son, served as the liaison between Li Ik and SCN, facilitating the supply of luxury goods from SCN to North Korea. He was the only one who was able to contact his father when the latter was in North Korea. Li Hyon, who studied in Singapore before 2014, also brought items across the border to Bugsae Shop three times.
Chong admitted to conspiring with SCN, Li Ik, its secretary Lam Hon Lan and Li Hyon to supply luxury goods valued at about $ 265,696 to North Korea eight times between 2011 and 2016, in violation of regulations. The total value of the goods provided, including the charges that were taken into consideration, exceeds $ 575,000. He made a profit of around $ 122,117.
SCN admitted to supplying luxury goods to North Korea six times between 2011 and 2015, while Sindok and Laurich admitted supplying the goods once in 2013 and 2015 respectively.
Li Hyon was previously jailed for four weeks for his role in supplying North Korea with luxury goods.
Man jailed for illegal transactions with North Korea and cheating
