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<p>The Korea National Insurance Company (KNIC) is a designated entity under EU sanctions
on North Korea and, as such, is subject to an asset freeze. Existing UN and EU sanctions
against the DPRK are based on UN Security Council Resolutions that prohibit the development
of the DPRK's nuclear and ballistic missile programmes. Both EU and UN sanctions target
goods and activities that support those programmes, and individuals and organisations
who have acted in breach of these Resolutions.</p><p>We believe these sanctions have
played a role in slowing down the progress of the DPRK's nuclear and missile programmes.
The UK has complied with all provisions of the EU designation of KNIC.</p>
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