North Korea

The Department of Treasury, Office of Foreign Assets Control (OFAC), has the primary authority to regulate sanctions under the North Korea Sanctions Regulations (NKSR) under 31 CFR Part 510. For more information on the Democratic People’s Republic of Korea (i.e. North Korea), please see the Department of State website for North Korean Sanctions.

In general, all property and interests in property that are in the United States or come within the possession or control of any U.S. person, will require a specific license form OFAC in order to be transferred, paid, exported, withdrawn, or otherwise dealt in with anyone affiliated with the Government of North Korea, the Workers’ Party of Korea, or any person designated under NKSR §510.201(a)(3).

Additionally, nearly all technology, software, defense articles, or defense services, will likely require a license from the Bureau of Industry and Security (BIS) or the Directorate of Defense Trade Control (DDTC) prior to being transferred or released to North Korea or North Korean nationals.

For more information on the NKSR or if you intend on conducting any UNC-Chapel Hill business with entities or individuals located in North Korea, please contact the Export Compliance Office.