This is historical material, "frozen in time." The web site is no longer updated and links to external web sites and some internal pages will not work.
On September 17, 1999, the President announced his decision to ease some
of the sanctions in place against the Democratic Peoples Republic of
Korea (North Korea) that are administered under the Trading with the
Enemy Act, the Defense Production Act, and the Department of Commerce's
Export Administration Regulations. The Departments of Commerce,
Transportation and Treasury have begun the process of modifying
regulations to implement the President's decision. That process may
take several months. Examples of activities on which restrictions will
be eased are:
the importation of most North Korean-origin goods and raw
materials;
the export and re-export of most non-sensitive goods and services
of U.S. companies and their foreign subsidiaries, such as most
consumer goods, most financial services, non-sensitive inputs for
investment in non-sensitive industrial sectors;
investment in such sectors as agriculture, mining, petroleum,
timber, cement, transportation, infrastructure (roads, ports,
airports), travel/tourism;
remittances from U.S. nationals to North Koreans;
the transport of approved (i.e., non-sensitive) cargo to and from
North Korea by commercial U.S. ships and aircraft, subject to
normal regulatory requirements;
commercial flights between the U.S. and North Korea, subject to
normal regulatory requirements.
Restrictions associated with North Korea's designation as a
terrorist-supporting state will remain in place. These restrictions
affect trade and/or financial transactions with certain North Korean
entities. Examples of activities that still will not be permitted due
to these restrictions are:
the export of United States Munitions List goods or technology;
the export of dual-use goods or technology on the Commerce Control
List without a license;
any assistance under the Foreign Assistance Act, the Agricultural
Trade and Development Act, the Peace Corps Act, and the
Export-Import Bank Act;
support for loans to North Korea by international financial
institutions;
the transfer of spoils of war;
the duty free treatment of exports to the United States;
financial transactions between U.S. persons and the North Korean
government unless authorized by regulation by the Secretary of the
Treasury; and
claiming foreign tax credits on corporate or individual income in
North Korea.
In addition, statutory restrictions such as U.S. missile technology
sanctions remain in place, as do restrictions based on multilateral
arrangements and nonproliferation controls. An illustrative list of the
restrictions that will continue are:
no new individual licenses for exports of items controlled pursuant
to the Export Administration regulations or to the Arms Export
Control Act to certain North Korean entities;
no U.S. government contracts involving certain North Korean
entities;
no import into the United States of products produced by certain
North Korean entities;
no new individual licenses for exports of items controlled pursuant
to the Arms Export Control Act to any activity of the North Korean
government relating to the development or production of missile
equipment or technology, and all activities of the North Korean
government affecting the development or production of electronics,
space systems or equipment, and military aircraft;
no U.S. Government contracts with any activity of the North Korean
government relating to the development or production of missile
equipment or technology and all activities of the DPRK government
affecting the development or production of electronics, space
systems or equipment and military aircraft;
no import to the United States of products produced by any activity
of the North Korean government relating to the development or
production of missile equipment or technology and all activities of
the North Korean government affecting the development or production
of electronics, space systems or equipment, and military aircraft;
and
no export of items for proliferation activities.
Finally, assets currently blocked under the Trading With the Enemy
Act remain frozen, and claims settlements issues are not addressed by
this initiative.