In accordance with Section 6 of its Guidelines, the Committee established pursuant to resolution 1718 (2006) makes accessible a narrative summary of reasons for the listing for individuals, groups, undertakings and entities included in its sanctions list.
Hong Kong Electronics was listed on 16 July 2009 “as being engaged in or providing support for, including through other illicit means, DPRK’s nuclear-related, other weapons of mass destruction-related and ballistic missile-related programmes.”
Hong Kong Electronics is “owned or controlled by, or acts or purports to act for or on behalf of Tanchon Commercial Bank and KOMID. Hong Kong Electronics has transferred millions of dollars of proliferation-related funds on behalf of Tanchon Commercial Bank and KOMID (both designated by the Committee in April 2009) since 2007. Hong Kong Electronics has facilitated the movement of money from Iran to the DPRK on behalf of KOMID."