,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #agga  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #bf1 #bjac ,mr4
 ,royce 7= himself1 ,mr4 ,engel1 ,mr4   
,*abot1 ,ms4 ,ros-,leht951 ,mr4         
,rohraba*]1 ,mr4 ,poe ( ,texas1 ,mr4    
,%]man1 & ,mr4 ,salmon7 introduc$ !     
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,=eign ,affairs1 & 9      
addition to ! ,committees on ,ways &    
,means1 ! ,judici>y1 ,f9ancial ,s]vices1
 & ,ov]sight & ,gov]nm5t ,re=m1 = a     
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to      
improve ! en=cem5t ( sanctions aga9/ !  
,gov]nm5t ( ,nor? ,korea1 & = o!r       
purposes4  #a4 ,%ort title2 table (     
cont5ts  7a7 ,%ort title ,?is ,act may  
be cit$ z ! ,nor? ,korea ,sanctions     
,en=cem5t ,act ( #bjac4  7b7 ,table (   
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3  ,sec4 #a4 ,%ort title2 table
 ( cont5ts4 ,sec4 #b4 ,f9d+s4 ,sec4 #c4 

,def9itions4 ,title ,i--,inve/igations1 
prohibit$ activities1 & p5alties ,sec4  
#aja4 ,/atem5t ( policy4 ,sec4 #ajb4    
,inve/igations4 ,sec4 #ajc4 ,brief+ to  
,congress4 ,sec4 #ajd4 ,designation (   
p]sons1 =eign gov]nm5ts1 & f9ancial     
in/itutions4 ,sec4 #aje4 ,=feiture (    
prop]ty4 ,title ,,ii--,sanctions ,aga9/ 
,nor? ,korean ,prolif]ation1 ,human     
,rights ,violations1 & ,illicit         
,activities ,sec4 #bja4 ,sanctions =    
mat]ial support ( ,nor? ,korean         
prolif]ation4 ,sec4 #bjb4 ,sanctions    
aga9/ ! provision ( specializ$ f9ancial 
messag+ s]vices to designat$ ,nor?      
,korean f9ancial in/itutions4 ,sec4     
#bjc4 ,prolif]ation prev5tion sanctions4
 ,sec4 #bjd4 ,procurem5t sanctions4     
,sec4 #bje4 ,sanctions ) respect to !   
provision ( vessels or %ipp+ s]vices to 
transport c]ta9 goods relat$ to         
prolif]ation1 t]rorism1 or crim9al      
activities ( ,nor? ,korea4 ,sec4 #bjf4  
,int]national assi/ance4 ,sec4 #bjg4    
,exclusion1 waiv]1 & removal (          

designation4 ,title ,,iii--,promotion ( 
human rights & dis9ve/m5t ,sec4 #cja4   
,in=mation te*nology4 ,sec4 #cjb4       
,disclosures to ,securities & ,ex*ange  
,commission relat+ to sanctionable      
activities4 ,sec4 #cjc4 ,au?ority (     
,/ate & local gov]nm5ts to dive/ f      
companies t inve/ 9 ,nor? ,korea4 ,sec4 
#cjd4 ,safe h>bor = *anges ( inve/m5t   
policies by asset manag]s4 ,sec4 #cje4  
,s5se ( ,congress reg>d+ c]ta9 ,,erisa  
plan inve/m5ts4 ,sec4 #cjf4 ,report on  
,nor? ,korean prison camps4 ,sec4 #cjg4 
,limits on jurisdictional immunity4     
,title ,,iv--,g5]al au?orities ,sec4    
#dja4 ,susp5sion ( sanctions & o!r      
measures4 ,sec4 #djb4 ,t]m9ation (      
sanctions & o!r measures4 ,sec4 #djc4   
,nor? ,korea ,en=cem5t & ,humanit>ian   
,fund4 ,sec4 #djd4 ,regulations4 ,sec4  
#dje4 ,effective date4  #b4 ,f9d+s      
,congress f9ds ! foll[+3  7#a7 ,!       
,gov]nm5t ( ,nor? ,korea has repeat$ly  
violat$ its commitm5ts to ! complete1   
v]ifiable1 irrev]sible dismantlem5t (   

its nucle> weapons programs1 & has      
willfully violat$ multiple ,unit$       
,nations ,security ,c\ncil resolutions  
call+ = x to cease its developm5t1 te/+1
 & production ( weapons ( mass          
de/ruction4  7#b7 ,nor? ,korea poses a  
grave risk = ! prolif]ation ( nucle>    
weapons & o!r weapons ( mass de/ruction4
  7#c7 ,! ,gov]nm5t ( ,nor? ,korea has  
be5 implicat$ repeat$ly 9 money laund]+ 
& illicit activities1 includ+ prohibit$ 
arms sales1 n>cotics traffick+1 !       
c\nt]feit+ ( ,unit$ ,/ates curr5cy1 & ! 
c\nt]feit+ ( intellectual prop]ty (     
,unit$ ,/ates p]sons4  7#d7 ,! ,gov]nm5t
 ( ,nor? ,korea has rec5tly & repeat$ly 
sponsor$ acts ( int]national t]rorism1  
includ+ attempts to assass9ate defectors
 & human rights activi/s2 repeat$ ?reats
 ( viol5ce aga9/ =eign p]sons1 lead]s1  
newspap]s1 & cities2 & ! %ipm5t (       
weapons to ,hezbollah & ,hamas via      
,iran4  7#e7 ,nor? ,korea has           
unilat]ally )drawn f ! #aiec ,armi/ice  
,agreem5t t end$ ! ,korean ,w>1 &       

committ$ unprovok$ acts ( w> aga9/ ,s\? 
,korea 9 #bjaj by s9k+ ! w>%ip ,*eonan &
 kill+ #df ( h] crew1 & by %ell+        
,yeonpyeong ,isl&1 kill+ f\r civilians4 
7#f7 ,nor? ,korea ma9ta9s a sy/em (     
brutal political prison camps t conta9 z
 _m z #bjj1jjj m51 wom51 & *ildr51 :o   
live 9 atroci\s liv+ conditions )       
insuffici5t food1 clo?+1 & m$ical c>e1 &
 "u con/ant fe> ( torture or arbitr>y   
execution4  7#g7 ,! ,congress reaffirms 
! purposes e/abli%$ 9 ! ,nor? ,korean   
,human ,rights ,act ( #bjjd 7#bb        
,u4,s4,c4 #ghjb74  7#h7 ,nor? ,korea has
 prioritiz$ weapons programs & !        
procurem5t ( luxury goods1 9 defiance ( 
,unit$ ,nations ,security ,c\ncil       
resolutions1 & 9 gross disreg>d ( ! ne$s
 ( its p4  7#i7 ,p]sons1 includ+        
f9ancial in/itutions1 :o engage 9       
transactions )1 or provide f9ancial     
s]vices to1 ! ,gov]nm5t ( ,nor? ,korea &
 its f9ancial in/itutions )\t e/abli%+  
suffici5t f9ancial safegu>ds aga9/ ,nor?
 ,korea's use ( ^! transactions to      

promote prolif]ation1 weapons traffick+1
 human rights violations1 illicit       
activity1 & ! pur*ase ( luxury goods1   
aid & abet ,nor? ,korea's misuse ( !    
int]national f9ancial sy/em1 & also     
violate ! int5t ( relevant ,unit$       
,nations ,security ,c\ncil resolutions4 
7#aj7 ,! ,gov]nm5t ( ,nor? ,korea's     
conduct poses an imm95t ?reat to !      
security ( ! ,unit$ ,/ates & its allies1
 to ! global economy1 to ! safety (     
memb]s ( ! ,unit$ ,/ates arm$ =ces1 to !
 integrity ( ! global f9ancial sy/em1 to
 ! integrity ( global nonprolif]ation   
programs1 & to ! p ( ,nor? ,korea4      
7#aa7 ,! ,congress seeks1 ?r\gh ?is     
legislation1 to use nonmilit>y means to 
address ?is em]g5cy1 to provide         
diplomatic lev]age to negotiate necess>y
 *anges 9 ,nor? ,korea's conduct1 & to  
ease ! suff]+ ( ! p ( ,nor? ,korea4  #c4
 ,def9itions ,9 ?is ,act3  7#a7 ,acc\nt2
 correspond5t acc\nt2 payable-?r\gh     
acc\nt ,! t]ms acc\nt1 correspond5t     
acc\nt1 & payable-?r\gh acc\nt h !      

mean+s giv5 ^? t]ms1 respectively1 "u   
section #ecah;,a ( title #ca1 ,unit$    
,/ates ,code4  7#b7 ,appropriate        
congressional committees ,! t]m         
appropriate congressional committees    
means--  7,a7 ! ,committee on ,=eign    
,affairs & ! ,committee on ,f9ancial    
,s]vices ( ! ,h\se ( ,repres5tatives2 & 
7,b7 ! ,committee on ,=eign ,relations &
 ! ,committee on ,bank+1 ,h\s+1 & ,urban
 ,affairs ( ! ,s5ate4  7#c7 ,c5sor%ip ,!
 t]m c5sor%ip means1 ) respect to ,nor? 
,korea1 activities t--  7,a7 prohibit1  
limit1 or p5alize ! ex]cise ( fre$om (  
expression or assembly by citiz5s (     
,nor? ,korea2 or  7,b7 limit access to  
pr9t or broadca/ m$ia1 includ+ !        
facilitation or support ( int5tional    
frequ5cy manipulation by ! ,gov]nm5t (  
,nor? ,korea t w\ld jam or re/rict an   
int]national signal4  7#d7 ,designat$   
p]son ,! t]m designat$ p]son means a    
p]son1 =eign gov]nm5t1 or f9ancial      
in/itution designat$ by ! ,presid5t "u  
subsection 7a71 7b71 7c71 or 7d7 (      

section #ajd = purposes ( apply+ !      
sanctions describ$ 9 title ,,ii 7z      
applicable7 ) respect to ! p]son1 =eign 
gov]nm5t1 or f9ancial in/itution4  7#e7 
,dome/ic f9ancial in/itution ,! t]m     
dome/ic f9ancial in/itution has ! mean+ 
giv5 su* t]m 9 section #ecab ( title    
#ca1 ,unit$ ,/ates ,code4  7#f7         
,facilitate  7,a7 ,9 g5]al ,! t]m       
facilitate means1 ) respect to any ( !  
activities describ$ 9 section #ajd7;a71 
to--  7i7 provide mat]ial support to1   
aid1 abet1 attempt1 or conspire to      
commit ! activity2  7ii7 conceal any    
evid5ce1 proce$s1 or in/rum5talities ( !
 activity2  7iii7 possess1 receive1     
ex*ange1 or transmit ! proce$s1         
in/rum5talities1 or o!r prop]ty involv$ 
9 ! activity2  7iv7 sell1 lease1 or     
provide a vessel or conveyance1 to      
regi/] ( reflag a vessel or conveyance1 
or provide insurance or re9surance or   
any o!r %ipp+ s]vice 9 fur!rance ( !    
activity2 or  7v7 engage 9 any act ) !  
purpose ( caus+ ! activity to occur4    

7,b7 ,exception ,no?+ 9 ?is p>agraph    
%all be con/ru$ to apply ) respect to ! 
provision ( specializ$ f9ancial messag+ 
s]vices 7z describ$ 9 section #bjb74    
7#g7 ,f9ancial in/itution ,! t]m        
f9ancial in/itution means a f9ancial    
in/itution specifi$ 9 subp>agraph 7,a71 
7,b71 7,c71 7,d71 7,e71 7,f71 7,g71     
7,h71 7,i71 7,j71 7,m71 or 7,y7 (       
section #ecab7;a77#b7 ( title #ca1      
,unit$ ,/ates ,code4  7#h7 ,f9ancial    
transaction ,! t]m f9ancial transaction 
has ! mean+ giv5 su* t]m 9 section #aief
 ( title #ah1 ,unit$ ,/ates ,code4  7#i7
 ,=eign gov]nm5t ,! t]m =eign gov]nm5t  
has ! mean+ giv5 ! t]m =eign /ate 9     
section #afjc ( title #bh1 ,unit$ ,/ates
 ,code4  7#aj7 ,gov]nm5t ( nor? korea ,!
 t]m ,gov]nm5t ( ,nor? ,korea means--   
7,a7 ! ,gov]nm5t ( ,nor? ,korea2  7,b7  
any political subdivision1 ag5cy1 or    
in/rum5tality !re(2  7,c7 ! ,national   
,def5se ,commission ( ,nor? ,korea & its
 memb]s2 &  7,d7 any p]son own$ or      
controll$ by1 or act+ = or on behalf (1 

! ,gov]nm5t ( ,nor? ,korea4  7#aa7      
,in/rum5talities ,! t]m in/rum5talities 
includes1 ) respect to any ( !          
activities describ$ 9 section #ajd7;a7--
  7,a7 any prop]ty o!r ?an proce$s ( su*
 transaction :i* is also "p ( ! subject 
matt] ( su* transaction2  7,b7 any      
prop]ty us$ to facilitate su*           
transaction1 includ+ any article1       
conta9]1 or conveyance us$1 or int5d$ to
 be us$1 to facilitate su* transaction2 
&  7,c7 any prop]ty o!r ?an ! proce$s ( 
su* transaction t is involv$ 9 or us$ to
 facilitate su* transaction4  7#ab7     
,int]national t]rorism ,! t]m           
int]national t]rorism has ! mean+ giv5  
su* t]m 9 section #bcca ( title #ah1    
,unit$ ,/ates ,code4  7#ac7 ,luxury     
goods ,! t]m luxury goods has ! mean+   
giv5 su* t]m 9 subp>t #gdf4d ( title    
#ae1 ,code ( ,f$]al ,regulations1 &     
includes ! items li/$ 9 ,supplem5t ,no4 
#a to su* regulation1 & any simil>      
items4  7#ad7 ,monet>y in/rum5t ,! t]m  
monet>y in/rum5t has ! mean+ giv5 su*   

t]m "u section #ecab ( title #ca1 ,unit$
 ,/ates ,code1 & also includes--  7,a7  
/or$ value c>ds1 tangible or intangible 
prepaid access devices1 or o!r in/rum5ts
 or devices = ! electronic /orage or    
transmission ( value1 z def9$ 9 "p #ajaj
 ( title #ca1 ,code ( ,f$]al            
,regulations2 &  7,b7 any cov]$ goods1 z
 def9$ 9 section #ajbg4ajj ( title #ca1 
,code ( ,f$]al ,regulations1 & any      
in/rum5t or tangible or intangible      
access device use = ! electronic /orage 
& transmission ( a repres5tation ( cov]$
 goods4  7#ae7 ,nor? korean f9ancial    
in/itution ,! t]m ,nor? ,korean f9ancial
 in/itution means--  7,a7 a f9ancial    
in/itution organiz$ "u ! laws ( ,nor?   
,korea or any jurisdiction )9 ,nor?     
,korea1 includ+ a =eign bran* ( su* an  
in/itution2  7,b7 a f9ancial in/itution 
locat$ 9 ,nor? ,korea1 except z may be  
exclud$ f su* def9ition by ! ,presid5t 9
 accordance ) section #bjg7;d72  7,c7 a 
f9ancial in/itution1 :]ev] locat$1 own$ 
or controll$ by ! ,gov]nm5t ( ,nor?     

,korea2 or  7,d7 a f9ancial in/itution1 
:]ev] locat$1 own$ or controll$ by a    
f9ancial in/itution describ$ 9          
subp>agraph 7,a71 7,b71 or 7,c74  7#af7 
,nor? korean prop]ty ,! t]m ,nor?       
,korean prop]ty includes any funds1     
f9ancial assets1 te*nology1 prop]ty1 or 
res\rces t are own$ or controll$1       
directly or indirectly1 by ! ,gov]nm5t (
 ,nor? ,korea4  7#ag7 ,p]son ,! t]m     
p]son means--  7,a7 a natural p]son2    
7,b7 a corporation1 bus9ess association1
 p>tn]%ip1 association1 society1 tru/1  
f9ancial in/itution1 jo9t v5ture1       
corporation1 gr\p1 subgr\p1 ag5cy1      
insur]1 und]writ]1 gu>antor1 & any o!r  
bus9ess organization1 any o!r           
nongov]nm5tal entity1 organization1 or  
gr\p1 & any gov]nm5tal entity op]at+ z a
 bus9ess ent]prise2 &  7,c7 a successor 
to any entity describ$ 9 subp>agraph    
7,b74  7#ah7 ,proce$s ,! t]m proce$s has
 ! mean+ giv5 su* t]m 9 section #aief ( 
title #ah1 ,unit$ ,/ates ,code4  7#ai7  
,s]i\s human rights abuse ,! t]m s]i\s  

human rights abuse includes g5ocide1    
slav]y1 kidnap+1 peonage1 murd]1        
torture1 & aggravat$ sexual abuse1 z ^? 
t]ms are describ$ & made puni%able "u "p
 ,i ( title #ah1 ,unit$ ,/ates ,code1 :5
 c>ri$ out by ! ,gov]nm5t ( ,nor?       
,korea1 )\t reg>d to :e!r su* conduct is
 )9 ! crim9al jurisdiction ( ! ,unit$   
,/ates4  7#bj7 ,specifi$ unlawful       
activity ,! t]m specifi$ unlawful       
activity has ! mean+ giv5 su* t]m 9     
section #aief ( title #ah1 ,unit$ ,/ates
 ,code4  7#ba7 ,transaction ,! t]m      
transaction has ! mean+ giv5 su* t]m 9  
section #aief ( title #ah1 ,unit$ ,/ates
 ,code4  7#bb7 ,unit$ /ates p]son ,! t]m
 ,unit$ ,/ates p]son means--  7,a7 a    
natural p]son :o is a citiz5 ( ! ,unit$ 
,/ates or :o owes p]man5t allegiance to 
! ,unit$ ,/ates2 &  7,b7 a corporation  
or o!r legal entity :i* is organiz$ "u !
 laws ( ! ,unit$ ,/ates1 any ,/ate or   
t]ritory !re(1 or ! ,di/rict (          
,columbia1 if a natural p]son describ$ 9
 subp>agraph 7,a7 owns1 directly or     

indirectly1 m ?an #ej p]c5t ( ! out/&+  
capital /ock or o!r b5eficial int]e/ 9  
su* corporation or o!r legal entity4  ,i
 ,inve/igations1 prohibit$ activities1 &
 p5alties  #aja4 ,/atem5t ( policy ,9   
ord] to a*ieve ! peaceful dis>mam5t (   
,nor? ,korea1 ,congress f9ds t x is     
necess>y--  7#a7 to enc\rage all        
responsible memb]s ( ! int]national     
community to fully & promptly implem5t  
,unit$ ,nations ,security ,c\ncil       
,resolution #bjid2  7#b7 to sanction !  
entities1 (ficials1 & f9ancial          
in/itutions t facilitate prolif]ation1  
illicit activities1 arms traffick+1     
imports ( luxury goods1 sev]e human     
rights abuses1 ca% smuggl+1 & c5sor%ip  
by ! ,gov]nm5t ( ,nor? ,korea2  7#c7 to 
au?orize ! ,presid5t to sanction        
f9ancial in/itutions & jurisdictions t  
fail to ex]cise due dilig5ce to ensure t
 su* f9ancial in/itutions &             
jurisdictions d n facilitate            
prolif]ation1 arms traffick+1           
kleptocracy1 & imports ( luxury goods by

 ! ,gov]nm5t ( ,nor? ,korea2 &  7#d7 to 
d5y ! ,gov]nm5t ( ,nor? ,korea access to
 ! funds x uses to obta9 nucle> weapons1
 balli/ic missiles1 & luxury goods      
in/ead ( provid+ = ! ne$s ( its p4      
#ajb4 ,inve/igations  7a7 ,initiation ( 
inve/igation ,! ,presid5t %all initiate 
an inve/igation into ! possible         
designation ( a p]son "u section        
#ajd7;a7 ^u receipt by ! ,unit$ ,/ates (
 cr$ible in=mation indicat+ t su* p]son 
has engag$ 9 "o or m activities describ$
 9 section #ajd7;a7 &1 except z provid$ 
9 section #bjg1 %all designate any p]son
 :o ! ,presid5t det]m9es has engag$ 9 "o
 or m activities describ$ 9 section     
#ajd7;a74  7b7 ,p]sonnel ,! ,presid5t   
%all direct ! ,secret>y ( ,/ate1 !      
,secret>y ( ! ,treasury1 ! ,attorney    
,g5]al1 ! ,secret>y ( ,homel& ,security1
 ! ,secret>y ( ,def5se1 ! ,director (   
,c5tral ,intellig5ce1 & ! heads ( o!r   
,f$]al dep>tm5ts & ag5cies z may be     
necess>y to assign suffici5t exp]i5c$ & 
qualifi$ inve/igators1 attorneys1 &     

te*nical p]sonnel to inve/igate &       
sanction any ( ! activities describ$ 9  
section #ajd7;a7 & to coord9ate & ensure
 ! effective en=cem5t ( ! provisions (  
?is ,act4  7c7 ,%>+ ( in=mation ,!      
,f$]al dep>tm5ts & ag5cies support+ !   
en=cem5t ( ?is ,act %all %>e su*        
in=mation )1 & %all provide ea* o!r     
access to1 databases & o!r s\rces (     
in=mation z may be necess>y to en=ce !  
provisions ( ?is ,act4  #ajc4 ,brief+ to
 ,congress  7a7 ,9 g5]al ,n lat] ?an    
#ahj days aft] ! date ( ! enactm5t ( ?is
 ,act1 & e #ahj days !reaft]1 !         
,presid5t %all provide to ! appropriate 
congressional committees a brief+ on !  
foll[+3  7#a7 ,assets ( ! gov]nm5t (    
nor? korea ,! significant assets held by
 ! ,gov]nm5t ( ,nor? ,korea1 ! am\nt (  
ea* su* asset1 & ! =m & f9ancial        
in/itution 7if any7 9 :i* ea* su* asset 
is held4  7#b7 ,transactions involv+ !  
gov]nm5t ( nor? korea ,! significant    
int]national f9ancial transactions by ! 
,gov]nm5t ( ,nor? ,korea dur+ ! previ\s 

#ahj days1 includ+ ! am\nts1 p>ties1    
t]ms1 & date ( ea* su* transaction1 !   
prop]ty involv$ 9 ! transaction1 & !    
names & nationalities ( any f9ancial    
in/itutions involv$ 9 ea* su*           
transaction4  7#c7 ,designations ,ea*   
p]son1 =eign gov]nm5t1 or f9ancial      
in/itution designat$ "u subsection 7a71 
7b71 7c71 or 7d7 ( section #ajd dur+ !  
previ\s #ahj days4  7#d7 ,waiv]s1 etc   
,all waiv]s1 exclusions1 & removals (   
designation grant$ "u section #bjg dur+ 
! previ\s #ahj days4  7b7 ,cont5ts (    
brief+ ,! brief+s requir$ by subsection 
7a7 %all also conta9--  7#a7 a li/ ( all
 p]sons & =eign gov]nm5ts t h provid$   
f9ancial1 /orage1 transportation1       
communication1 messag+1 promotional1 or 
o!r s]vices ) respect to su* prop]ty &  
transactions2  7#b7 an assessm5t ( !    
suffici5cy ( f9ancial safegu>ds to      
ensure t su* prop]ty & transactions are 
prev5t$ f be+ us$ to facilitate any ( ! 
activities describ$ 9 section #ajd7;a71 
& recomm5dations = any safegu>ds        

necess>y to prev5t su* use2 &  7#c7 :e!r
 any evid5ce exi/s to sugge/ t su*      
prop]ty con/itutes ! proce$s or         
in/rum5talities ( any activity describ$ 
9 section #ajd7;a74  #ajd4 ,designation 
( p]sons1 =eign gov]nm5ts1 & f9ancial   
in/itutions  7a7 ,designation ( p]sons  
:o engage 9 c]ta9 activities ,except z  
provid$ 9 section #bjg1 ! ,presid5t %all
 ex]cise ! au?orities ( ! ,int]national 
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agja et seq47 )\t reg>d to   
section #bjb ( su* ,act to designate &  
apply ! sanctions describ$ 9 title ,,ii1
 z applicable1 ) respect to any p]son if
 ! ,presid5t det]m9es t ! p]son--  7#a7 
kn[+ly & mat]ially contributes1 ?r\gh ! 
export to or import f ,nor? ,korea ( any
 goods or te*nology1 to ! ef=ts by any  
gov]nm5t or p]son to use1 develop1      
produce1 /ockpile1 or o!rwise acquire   
nucle>1 radiological1 *emical1 or       
biological weapons1 or any device or    
sy/em design$ 9 :ole or 9 "p to deliv]  
su* weapons2  7#b7 kn[+ly exports1 or   

facilitates ! export (1 def5se articles 
& def5se s]vices to ! ,gov]nm5t ( ,nor? 
,korea1 or kn[+ly exports1 or           
facilitates ! export (1 any def5se      
articles & def5se s]vices f ,nor? ,korea
 to any o!r c\ntry2  7#c7 kn[+ly        
exports1 or facilitates ! export (1 any 
luxury goods to ,nor? ,korea2  7#d7     
kn[+ly provides1 sells1 leases1 regi/]s1
 or reflags a vessel1 aircraft1 or o!r  
conveyance1 or provides insurance or    
re9surance or any o!r %ipp+ or          
transportation s]vice us$ or int5d$ to  
be us$ =1 ! transportation ( goods to or
 f ,nor? ,korea1 = purposes facilitat+ a
 specifi$ unlawful activity1 or =       
purposes ( evad+ a regulation e/abli%$  
"u ?is ,act or ! ,int]national ,em]g5cy 
,economic ,p[]s ,act2  7#e7 kn[+ly      
transf]s1 pays1 exports1 )draws1 or     
o!rwise deals ) any prop]ty or int]e/ 9 
prop]ty ( ! ,gov]nm5t ( ,nor? ,korea =  
purposes ( facilitat+ a specifi$        
unlawful activity1 or = purposes ( evad+
 a regulation e/abli%$ "u ?is ,act or ! 

,int]national ,em]g5cy ,economic ,p[]s  
,act2  7#f7 kn[+ly engages 9 or         
facilitates c5sor%ip by ! ,gov]nm5t (   
,nor? ,korea2 or  7#g7 kn[+ly commits or
 facilitates a s]i\s human rights abuse 
by ! ,gov]nm5t ( ,nor? ,korea4  7b7     
,designation ( p]sons & =eign gov]nm5ts 
t are sanction$ by executive ord] or !  
unit$ nations ,except z provid$ 9       
section #bjg1 ! ,presid5t %all ex]cise !
 au?orities ( ! ,int]national ,em]g5cy  
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agja et seq47 )\t reg>d to section #bjb
 ( su* ,act to designate & apply !      
sanctions describ$ 9 title ,,ii1 z      
applicable1 ) respect to any p]son or   
=eign gov]nm5t if ! ,presid5t det]m9es !
 p]son or =eign gov]nm5t--  7#a7 has be5
 li/$ or sanction$ "u any regulation or 
,executive ,ord] ,no4 #acchb1 #acbbd1   
#aceea1 or o!rwise pursuant to !        
,int]national ,em]g5cy ,economic ,p[]s  
,act = illicit activities or activities 
conc]n+ ,nor? ,korea's prolif]ation (   
weapons ( mass de/ruction2  7#b7 has be5

 sanction$ "u ,unit$ ,nations ,security 
,c\ncil resolutions #afie1 #agah1 #ahgd1
 #bjhg1 #bjid1 or o!r su* resolution    
conc]n+ ,nor? ,korea's prolif]ation (   
weapons ( mass de/ruction2 or  7#c7 has 
be5 convict$ ( a crim9al (f5se = any ( !
 activities describ$ 9 p>agraphs 7#a7   
?r\gh 7#g7 ( subsection 7a74  7c7       
,designation ( ,gov]nm5t ( ,nor? ,korea 
,except z provid$ 9 section #bjg1 !     
,presid5t %all ex]cise ! au?orities ( ! 
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 )\t  
reg>d to section #bjb ( su* ,act to     
designate & apply ! sanctions describ$ 9
 title ,,ii1 z applicable1 ) respect to 
! ,gov]nm5t ( ,nor? ,korea4  7d7        
,discretion>y au?ority ,to designate    
=eign gov]nm5ts & f9ancial in/itutions  
,except z provid$ 9 section #bjg1 !     
,presid5t may ex]cise ! au?orities ( !  
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 )\t  
reg>d to section #bjb ( su* ,act to     
designate & apply any ( ! sanctions     

describ$ 9 sections #bja & #bjd1 z      
applicable1 ) respect to any =eign      
gov]nm5t or f9ancial in/itution if !    
,presid5t det]m9es ! =eign gov]nm5t or  
f9ancial in/itution1 aft] ! date t is   
#ahj days aft] ! date ( ! enactm5t ( ?is
 ,act--  7#a7 engages 9 any ( !         
activities describ$ 9 p>agraphs 7#a7    
?r\gh 7#g7 ( subsection 7a72  7#b7 fails
 to freeze any funds1 f9ancial assets1  
or economic res\rces ( a p]son designat$
 "u subsection 7a7 or 7b7 9 accordance )
 ! legal process ( ! c\ntry 9 :i* su*   
prop]ty is held2  7#c7 fails to freeze  
any funds1 f9ancial assets1 or economic 
res\rces t c\ld be us$ to facilitate any
 ( ! activities describ$ 9 p>agraph     
7#a71 7#b71 or 7#c7 ( subsection 7a71 9 
accordance ) ! legal process ( ! c\ntry 
9 :i* su* prop]ty is held2  7#d7 fails  
to apply enhanc$ monitor+ to prev5t any 
transactions t c\ld be us$ to facilitate
 any ( ! activities describ$ 9 p>agraph 
7#a71 7#b71 or 7#c7 ( subsection 7a72   
7#e7 p]mits any ,nor? ,korean f9ancial  

in/itution to op5 any new bran*1        
subsidi>y or repres5tative (fice1 or to 
e/abli% any new jo9t v5ture )9 its      
jurisdiction1 or to take an own]%ip     
int]e/ 91 or e/abli% or ma9ta9 a        
correspond5t relation%ip ) any bank 9   
its jurisdiction1 if su* bran*1         
subsidi>y1 repres5tative (fice1 jo9t    
v5ture1 own]%ip int]e/1 or correspond5t 
relation%ip c\ld be us$ to facilitate   
any ( ! activities describ$ 9 p>agraph  
7#a71 7#b71 or 7#c7 ( subsection 7a72   
7#f7 fails to prohibit any transf]s (   
ca%1 includ+ ?r\gh ca% c\ri]s1 transit+ 
to & f ,nor? ,korea s z to ensure su*   
transf]s ( bulk ca% are n us$ to        
facilitate any ( ! activities describ$ 9
 p>agraph 7#a71 7#b71 or 7#c7 (         
subsection 7a72  7#g7 provides public   
f9ancial support = trade ) ! ,gov]nm5t (
 ,nor? ,korea 7includ+ ! grant+ ( export
 cr$its1 gu>antees or insurance to _!   
nationals or entities involv$ 9 su*     
trade7 :5 su* f9ancial support c\ld be  
us$ to facilitate any ( ! activities    

describ$ 9 p>agraph 7#a71 7#b71 or 7#c7 
( subsection 7a72 or  7#h7 facilitates !
 use ( any proce$s ( ! brib]y ( an      
(ficial ( ! ,gov]nm5t ( ,nor? ,korea1 or
 ! misappropriation1 !ft1 or embezzlem5t
 ( public funds by1 or = ! b5efit (1 an 
(ficial ( ! ,gov]nm5t ( ,nor? ,korea4   
7e7 ,application to successors1 etc ,!  
designation ( a p]son1 =eign gov]nm5t1  
or f9ancial in/itution "u subsection    
7a71 7b71 7c71 or 7d7 %all also apply ) 
respect to--  7#a7 a successor entity to
 ! designat$ p]son2  7#b7 a p]son own$  
or controll$ by1 or "u common own]%ip or
 control )1 ! designat$ p]son1 if !     
p]son own$ or controll$ by1 or "u common
 own]%ip or control ) 7z ! case may be71
 ! designat$ p]son kn[+ly engag$ 9 !    
transaction caus+ ! designation2  7#c7 a
 corporate (fic] or pr9cipal (1 or a    
%>ehold] ) a controll+ int]e/ 91 su*    
designat$ p]son1 if su* corporate (fic]1
 or pr9cipal or %>ehold] ) a controll+  
int]e/1 kn[+ly engag$ 9 ! transaction   
caus+ ! designation2 &  7#d7 a ,unit$   

,/ates p]son1 includ+ a dome/ic f9ancial
 in/itution1 to ! same ext5t z if !     
transaction 7 engag$ 9 by ! ,unit$      
,/ates p]son or 9 ! ,unit$ ,/ates if--  
7,a7 a p]son1 includ+ a =eign subsidi>y1
 own$ or controll$ by ! ,unit$ ,/ates   
p]son engages 9 or facilitates any ( !  
activities describ$ 9 p>agraphs 7#a7    
?r\gh 7#g7 ( subsection 7a72 &  7,b7 !  
,unit$ ,/ates p]son knew or %\ld h kn[n 
t ! p]son engag$ 9 or facilitat$ any ( !
 activities describ$ 9 p>agraphs 7#a7   
?r\gh 7#g7 ( subsection 7a74  7f7       
,regulations  7#a7 ,9 g5]al ,! ,presid5t
 %all promulgate su* regulations z may  
be necess>y "u ! au?ority ( !           
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 to   
c>ry out ?is section4  7#b7 ,additional 
requirem5t ,! regulations promulgat$ "u 
?is subsection %all require enhanc$ due 
dilig5ce = all transactions ) !         
,gov]nm5t ( ,nor? ,korea or involv+     
,nor? ,korean prop]ty to prev5t !       
facilitation ( activities describ$ 9 any

 ( p>agraphs 7#a7 ?r\gh 7#g7 (          
subsection 7a7 or any ( p>agraphs 7#a7  
?r\gh 7#h7 ( subsection 7d74  7g7       
,p5alties ,any p]son :o engages 9 !     
conduct describ$ 9 subsection 7a71 or :o
 violates any regulation promulgat$ "u  
subsection 7f7 or section #djd1 %all be 
subject to ! p5alties "u section #bjf ( 
! ,int]national ,em]g5cy ,economic ,p[]s
 ,act 7#ej ,u4,s4,c4 #agje7 9 ! same    
mann] & to ! same ext5t z su* p5alties  
w\ld apply to any p]son :o violates any 
lic5se1 ord]1 regulation1 or prohibition
 issu$ "u t ,act 7#ej ,u4,s4,c4 #agja et
 seq474  #aje4 ,=feiture ( prop]ty  7a7 
,use ( funds d]iv$ f civil =feitures    
,section #iha7;e7 ( title #ah1 ,unit$   
,/ates ,code1 is am5d$--  7#a7 9        
p>agraph 7#f71 by /rik+ or at ! end2    
7#b7 9 p>agraph 7#g71 by /rik+ ! p]iod  
at ! end & ins]t+ 2 or2 &  7#c7 by      
ins]t+ aft] p>agraph 7#g7 ! foll[+ new  
p>agraph3  7#h7 9 ! case ( prop]ty      
involv$ 9 any ( ! activities describ$ 9 
section #ajd7;a7 ( ! ,nor? ,korea       

,sanctions ,en=cem5t ,act ( #bjac1 9    
accordance ) section #djc ( t ,act4  4  
7b7 ,cu/oms =feitures ,not)/&+ sections 
#fji1 #fac7;a77#c71 & #fac;,a7c7 ( !    
,t>iff ,act ( #aicj 7#ai ,u4,s4,c4      
#afji7;a71 #afac7;a77#c71 & #afac;b7c771
 any funds d]iv$ f ! =feiture ( prop]ty 
"u section #eif ( ! ,t>iff ,act ( #aicj 
7#ai ,u4,s4,c4 #aeie;a7 t relates to any
 ( ! activities describ$ 9 section      
#ajd7;a7 %all be deposit$ into ! ,nor?  
,korea ,en=cem5t & ,humanit>ian ,fund   
e/abli%$ "u section #djc4  7c7 ,paym5t 9
 lieu ( =feiture ,if a f9ancial         
in/itution or o!r p]son pays a sum (    
money to ! ,unit$ ,/ates--  7#a7 9 lieu 
( ! comm5cem5t ( crim9al1 civil1 or     
adm9i/rative =feiture proce$+s to =feit 
prop]ty involv+ any ( ! activities      
describ$ 9 section #ajd7;a71 or  7#b7 9 
settlem5t ( su* =feiture proce$+s if    
comm5c$1  su* sum ( money %all be treat$
 z =feit$ funds & dispos$ ( 9 accordance
 ) section #djc4  ,,ii ,sanctions ,aga9/
 ,nor? ,korean ,prolif]ation1 ,human    

,rights ,violations1 & ,illicit         
,activities  #bja4 ,sanctions = mat]ial 
support ( ,nor? ,korean prolif]ation    
7a7 ,s5se ( congress ,x is ! s5se (     
,congress t ! ,gov]nm5t ( ,nor? ,korea  
%\ld be treat$ z a prim>y money laund]+ 
conc]n 9 accordance ) section #ecah;,a (
 title #ca1 ,unit$ ,/ates ,code4  7b7   
,requirem5ts = f9ancial in/itutions     
ma9ta9+ acc\nts = =eign f9ancial        
in/itutions  7#a7 ,t]m9ation (          
correspond5t or payable-?r\gh acc\nts ,a
 dome/ic f9ancial in/itution %all       
t]m9ate any correspond5t acc\nt t is    
e/abli%$1 ma9ta9$1 adm9i/]$1 or manag$  
=1 or on behalf (1 any p]son1 =eign     
gov]nm5t1 or f9ancial in/itution        
designat$ "u subsection 7a7 or 7b7 (    
section #ajd4  7#b7 ,prohibition on     
indirect correspond5t acc\nts ,if a     
dome/ic f9ancial in/itution has or      
obta9s k t a correspond5t acc\nt        
e/abli%$1 ma9ta9$1 adm9i/]$1 or manag$  
by t dome/ic f9ancial in/itution = a    
=eign f9ancial in/itution is be+ us$ by 

! =eign f9ancial in/itution to provide  
f9ancial s]vices indirectly to any      
p]son1 =eign gov]nm5t1 or f9ancial      
in/itution designat$ "u subsection 7a7  
or 7b7 ( section #ajd1 ! dome/ic        
f9ancial in/itution %all ensure t !     
correspond5t acc\nt is no long] us$ to  
provide su* s]vices1 includ+1 :5        
necess>y1 t]m9at+ ! correspond5t acc\nt4
  7#c7 ,enhanc$ due dilig5ce & report+  
requirem5ts ,except z provid$ 9 section 
#bjg1 ! ,secret>y ( ,treasury %all      
require all dome/ic f9ancial in/itutions
 to apply "o or m ( ! special measures  
describ$ 9 p>agraphs 7#a7 ?r\gh 7#e7 (  
section #ecah;,a7b7 ( title #ca1 ,unit$ 
,/ates ,code1 to--  7,a7 any f9ancial   
in/itution t e/abli%es1 ma9ta9s1        
adm9i/]s1 or manages any correspond5t   
acc\nt = a p]son1 f9ancial in/itution1  
or =eign gov]nm5t designat$ "u          
subsection 7a7 or 7b7 ( section #ajd2 & 
7,b7 any p]son1 f9ancial in/itution1 or 
=eign gov]nm5t designat$ "u subsection  
7c7 or 7d7 ( section #ajd4  7#d7        

,additional requirem5ts ,a dome/ic      
f9ancial in/itution requir$ to t]m9ate  
an acc\nt pursuant to ?is subsection--  
7,a7 %all n p]mit ! =eign bank to       
e/abli% any new positions or execute any
 transactions ?r\gh su* acc\nt1 o!r ?an 
^? necess>y to close ! acc\nt2 &  7,b7  
may ree/abli% an acc\nt clos$ pursuant  
to su* subsection if ! ,secret>y ( !    
,treasury det]m9es t ! acc\nt w n be us$
 to provide f9ancial s]vices indirectly 
to a p]son designat$ "u subsection 7a7  
or 7b7 ( section #ajd4  7#e7            
,prohibition on designation z prim>y    
deal] ,) respect to a designat$ p]son t 
is a dome/ic f9ancial in/itution1 nei!r 
! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve  
,sy/em nor ! ,f$]al ,res]ve ,bank ( ,new
 ,york may designate1 or p]mit !        
cont9uation ( any prior designation (1  
su* f9ancial in/itution z a prim>y deal]
 9 ,unit$ ,/ates ,gov]nm5t debt         
in/rum5ts4  7#f7 ,prohibition on s]vice 
z a repository ( gov]nm5t funds ,)      
respect to a designat$ p]son t is a     

dome/ic f9ancial in/itution1 su* dome/ic
 f9ancial in/itution may n s]ve z ag5t (
 ! ,unit$ ,/ates ,gov]nm5t or s]ve z a  
repository = ,unit$ ,/ates ,gov]nm5t    
funds4  7#g7 ,=eign ex*ange ,! ,presid5t
 may prohibit any transactions 9 =eign  
ex*ange by any dome/ic f9ancial         
in/itution 9 :i* a designat$ p]son has  
any int]e/4  7#h7 ,bank+ transactions ,!
 ,presid5t may prohibit any transf]s (  
cr$it or paym5ts betwe5 dome/ic f9ancial
 in/itutions or by1 ?r\gh1 or to any    
f9ancial in/itution1 to ! ext5t t su*   
transf]s or paym5ts involve any int]e/ (
 a designat$ p]son4  7#i7 ,p5alties     
7,a7 ,title #ca1 ,u4,s4,c ,! p5alties   
provid$ = 9 sections #ecba7;a7 & #ecbb (
 title #ca1 ,unit$ ,/ates ,code1 %all   
apply to a p]son t violates a regulation
 prescrib$ "u p>agraph 7#a71 7#b71 7#c71
 or 7#d7 9 ! same mann] & to ! same     
ext5t z su* p5alties w\ld apply to any  
p]son t is o!rwise subject to su*       
section #ecba7;a7 or #ecbb4  7,b7       
,,ieepa ,! p5alties provid$ = 9 section 

#bjf ( ! ,int]national ,em]g5cy         
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agje7 %all apply to a p]son :o violates
 a regulation prescrib$ "u p>agraph     
7#e71 7#f71 7#g71 or 7#h7 9 ! same mann]
 & to ! same ext5t z su* p5alties w\ld  
apply to any p]son t is o!rwise subject 
to su* section4  7c7 ,block+ ( prop]ty  
7#a7 ,9 g5]al ,! ,presid5t %all ex]cise 
! au?orities ( ! ,int]national ,em]g5cy 
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agja et seq47 )\t reg>d to section #bjb
 ( su* ,act to imm$iately freeze or     
block--  7,a7 any ,nor? ,korean prop]ty1
 &  7,b7 any prop]ty involv$ 9 any ( !  
activities describ$ 9 section #ajd7;a71 
)9 ! jurisdiction ( ! ,unit$ ,/ates1 or 
held by a dome/ic f9ancial in/itution4  
7#b7 ,prop]ty ( a designat$ p]son ,!    
,presid5t may ex]cise ! au?orities ( !  
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 )\t  
reg>d to section #bjb ( su* ,act to     
block any prop]ty ( a designat$ p]son )9
 ! jurisdiction ( ! ,unit$ ,/ates1 or   

held by a dome/ic f9ancial in/itution4  
7#c7 ,prop]ty d]iv$ f misappropriation1 
!ft1 or embezzlem5t ( public funds ,!   
,presid5t %all ex]cise ! au?orities ( ! 
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq47 )\t  
reg>d to section #bjb ( su* ,act to     
enc\rage =eign gov]nm5ts & =eign        
f9ancial in/itutions to block1 9        
accordance ) ! legal process ( ! c\ntry 
9 :i* ! prop]ty is held1 any prop]ty    
d]iv$ f ! misappropriation1 !ft1 or     
embezzlem5t ( public funds by1 or = !   
b5efit (1 an (ficial ( ! ,gov]nm5t (    
,nor? ,korea4  7#d7 ,scope ( au?ority   
,activities prohibit$ by reason ( !     
block+ ( prop]ty & f9ancial transactions
 "u ?is section %all include ! foll[+3  
7,a7 ,paym5ts or transf]s ( any prop]ty1
 or any transactions involv+ ! transf] (
 any?+ ( economic value by any ,unit$   
,/ates p]son1 includ+ any ,unit$ ,/ates 
f9ancial in/itution & any bran* or (fice
 ( su* f9ancial in/itution t is locat$  
outside ! ,unit$ ,/ates1 to a designat$ 

p]son4  7,b7 ,! transf] directly or     
indirectly1 ( any goods1 te*nology1 or  
s]vices by a ,unit$ ,/ates p]son to a   
designat$ p]son4  7d7 ,review (         
transaction lic5ses ,! ,secret>y ( !    
,treasury %all review all transaction   
lic5ses grant$ pursuant to subp>t ,e (  
"p #eaj ( title #ca1 ,code ( ,f$]al     
,regulations1 all applications = su*    
lic5ses1 & all exclusions f su* lic5s+  
requirem5ts n lat] ?an #ahj days aft] ! 
date ( ! enactm5t ( ?is ,act1 & %all d5y
 or revoke any lic5se = any transaction 
t1 9 ! det]m9ation ( ! ,secret>y ( !    
,treasury1 lacks suffici5t f9ancial     
controls to ensure t su* transaction w n
 facilitate any ( ! activities describ$ 
9 section #ajd7;a74  7e7 ,d5ial ( visas 
,! ,presid5t may direct ! ,secret>y (   
,/ate to d5y a visa to1 & ! ,secret>y ( 
,homel& ,security to exclude f ! ,unit$ 
,/ates1 any ali5 :o is a designat$      
p]son1 or :o is a corporate (fic] or    
pr9cipal (1 or a %>ehold] ) a controll+ 
int]e/ 91 a designat$ p]son4  7f7       

,int]national coop]ation ,! ,presid5t   
%all--  7#a7 take appropriate /eps to   
secure ! effective en=cem5t ( anti-money
 laund]+ protocols consi/5t ) ! purpose 
( ?is ,act1 ?r\gh bilat]al discussions )
 =eign gov]nm5ts & ?r\gh ! ,f9ancial    
,action ,task ,=ce2 &  7#b7 support     
ef=ts ( =eign gov]nm5ts to enact & en=ce
 legislation consi/5t ) ! purposes ( ?is
 ,act4  #bjb4 ,sanctions aga9/ !        
provision ( specializ$ f9ancial messag+ 
s]vices to designat$ ,nor? ,korean      
f9ancial in/itutions  7a7 ,brief+s      
requir$  7#a7 ,9 g5]al ,n lat] ?an #ij  
days aft] ! date ( ! enactm5t ( ?is     
,act1 & e #ahj days !reaft]1 ! ,presid5t
 %all provide to ! appropriate          
congressional committees a brief+ on !  
foll[+3  7,a7 ,a li/ ( all p]sons &     
=eign gov]nm5ts t ! ,presid5t has       
id5tifi$ t directly provide specializ$  
f9ancial messag+ s]vices to1 or enable  
or facilitate direct or indirect access 
to su* messag+ s]vices =1 any ,nor?     
,korean f9ancial in/itution designat$ "u

 section #ajd7;b74  7,b7 ,a detail$     
assessm5t ( ! /atus ( ef=ts by !        
,presid5t to end ! direct provision (   
su* messag+ s]vices to1 & ! enabl+ or   
facilitation ( direct or indirect access
 to su* messag+ s]vices = any ,nor?     
,korean f9ancial in/itution designat$ "u
 section #ajd7;b74  7#b7 ,enabl+ or     
facilitation ( access to specializ$     
f9ancial messag+ s]vices ?r\gh int]m$i>y
 f9ancial in/itutions ,= purposes (     
p>agraph 7#a7 & subsection 7b71 enabl+  
or facilitat+ direct or indirect access 
to specializ$ f9ancial messag+ s]vices =
 any ,nor? ,korean f9ancial in/itution  
designat$ "u section #ajd7;b7 includes  
do+ s by s]v+ z an int]m$i>y f9ancial   
in/itution ) access to su* messag+      
s]vices4  7b7 ,au?orization ( imposition
 ( sanctions  7#a7 ,9 g5]al ,except z   
provid$ 9 p>agraph 7#b71 if1 on or aft] 
! date t is #ahj days aft] ! date ( !   
enactm5t ( ?is ,act1 a p]son cont9ues to
 kn[+ly & directly provide specializ$   
f9ancial messag+ s]vices to1 or kn[+ly  

enable or facilitate direct or indirect 
access to su* messag+ s]vices = any     
,nor? ,korean f9ancial in/itution       
designat$ "u section #ajd7;b71 !        
,presid5t may impose sanctions pursuant 
to section #bjf7;b7 ( ! ,int]national   
,em]g5cy ,economic ,p[]s ,act 7#ej      
,u4,s4,c4 #agje7;b77 ) respect to !     
p]son4  7#b7 ,exception ,! ,presid5t may
 n impose sanctions pursuant to p>agraph
 7#a7 ) respect to a p]son = directly   
provid+ specializ$ f9ancial messag+     
s]vices to1 or enabl+ or facilitat+     
direct or indirect access to su* messag+
 s]vices =1 any ,nor? ,korean f9ancial  
in/itution designat$ "u section #ajd7;b7
 if--  7,a7 ! p]son is subject to a     
sanctions regime "u its gov]n+ =eign law
 t requires x to elim9ate ! kn[+        
provision ( su* messag+ s]vices to1 & ! 
kn[+ enabl+ & facilitation ( direct or  
indirect access to su* messag+ s]vices =
 any ,nor? ,korean f9ancial in/itution  
designat$ "u section #ajd7;b72 &  7,b7 !
 p]son has1 pursuant to t sanctions     

regime1 t]m9at$ ! kn[+ provision ( su*  
messag+ s]vices to1 & ! kn[+ enabl+ &   
facilitation ( direct or indirect access
 to su* messag+ s]vices =1 any ,nor?    
,korean f9ancial in/itution designat$ "u
 section #ajd7;b7 id5tifi$ "u su* gov]n+
 =eign law = purposes ( t sanctions     
regime4  7#c7 ,requirem5t = consultation
 ,! ,presid5t may n impose sanctions    
pursuant to p>agraph 7#a7 ) respect to a
 p]son = directly provid+ specializ$    
f9ancial messag+ s]vices to1 or enabl+  
or facilitat+ direct or indirect access 
to su* messag+ s]vices =1 any ,nor?     
,korean f9ancial in/itution designat$ "u
 section #ajd7;b7 unless ! ,presid5t has
 made good-fai? ef=ts to obta9 !        
volunt>y cessation ( su* specializ$     
f9ancial messag+ s]vices by su* p]son4  
#bjc4 ,prolif]ation prev5tion sanctions 
7a7 ,9 g5]al ,section #f7;j7 ( ! ,export
 ,adm9i/ration ,act ( #aigi 7#ej        
,u4,s4,c4 ,app4 #bdje71 z cont9u$ 9     
effect "u ! ,int]national ,em]g5cy      
,economic ,p[]s ,act1 is am5d$ by add+  

at ! end ! foll[+ new p>agraph3  7#g7 ,a
 validat$ lic5se %all be requir$ = !    
export to ,nor? ,korea ( any goods or   
te*nology )\t reg>d to :e!r or n !      
,secret>y ( ,/ate has designat$ ,nor?   
,korea z a c\ntry ! gov]nm5t ( :i* has  
provid$ support = acts ( int]national   
t]rorism1 z det]m9$ by ! ,secret>y (    
,/ate "u p>agraph 7#a7 or any o!r       
provision ( law4  4  7b7 ,transactions )
 c\ntries support+ acts ( int]national  
t]rorism ,! prohibitions & re/rictions  
describ$ 9 section #dj ( ! ,arms ,export
 ,control ,act 7#bb ,u4,s4,c4 #bghj7    
%all also apply to export+ or o!rwise   
provid+ 7by sale1 lease or loan1 grant1 
or o!r means71 directly or indirectly1  
any munitions item or def5se articles & 
def5se s]vices to ! ,gov]nm5t ( ,nor?   
,korea )\t reg>d to :e!r or n ,nor?     
,korea is a c\ntry ) respect to :i*     
subsection 7d7 ( su* section 7relat+ to 
designation ( /ate sponsors ( t]rorism7 
applies4  #bjd4 ,procurem5t sanctions   
7a7 ,9 g5]al ,except z provid$ 9 ?is    

section1 ! ,unit$ ,/ates ,gov]nm5t may n
 procure1 or ent] into any contract = ! 
procurem5t (1 any goods or s]vices f any
 designat$ p]son4  7b7 ,,f> ,! ,f$]al   
,acquisition ,regulation issu$ pursuant 
to section #acjc ( title #da1 ,unit$    
,/ates ,code1 %all be revis$ to require 
a c]tification f ea* p]son t is a       
prospective contractor t su* p]son does 
n engage 9 any ( ! activities describ$ 9
 section #ajd7;a74 ,su* am5dm5t %all    
apply ) respect to contracts = :i*      
solicitations are issu$ on or aft] !    
date t is #ij days aft] ! date ( !      
enactm5t ( ?is ,act4  7c7 ,,gsa ,!      
,adm9i/rator ( ,g5]al ,s]vices %all     
include on ! ,li/ ( ,p>ties ,exclud$ f  
,f$]al ,procurem5t & ,nonprocurem5t     
,programs ma9ta9$ by ! ,adm9i/rator "u  
"p #i ( ! ,f$]al ,acquisition           
,regulation ea* p]son t is deb>r$1      
susp5d$1 or propos$ = deb>m5t or        
susp5sion by ! head ( an executive ag5cy
 on ! basis ( a det]m9ation ( a false   
c]tification "u subsection 7b74 ,if !   

head ( an executive ag5cy det]m9es t a  
p]son has submitt$ a false c]tification 
"u subsection 7b7 aft] ! date on :i* !  
,f$]al ,acquisition ,regulation is      
revis$ to implem5t ! requirem5ts ( ?is  
section1 ! head ( su* executive ag5cy   
%all t]m9ate a contract ) su* p]son or  
deb> or susp5d su* p]son f eligibility =
 ,f$]al contracts = a p]iod ( n m ?an   
?ree ye>s4 ,any su* deb>m5t or susp5sion
 %all be subject to ! proc$ures t apply 
to deb>m5t & susp5sion "u ! ,f$]al      
,acquisition ,regulation "u subp>t #i4d 
( "p #i ( title #dh1 ,code ( ,f$]al     
,regulations4  7d7 ,cl>ification reg>d+ 
c]ta9 products ,! rem$ies specifi$ 9    
subsections 7a7 ?r\gh 7c7 %all n apply )
 respect to ! procurem5t ( eligible     
products1 z def9$ 9 section #cjh7d7 ( ! 
,trade ,agreem5ts ,act ( #aigi 7#ai     
,u4,s4,c4 #beah7d771 ( any =eign c\ntry 
or in/rum5tality designat$ "u section   
#cja7;b7 ( su* ,act 7#ai ,u4,s4,c4      
#beaa7;b774  7e7 ,rule ( con/ruction    
,no?+ 9 8 subsection may be con/ru$ to  

limit ! use ( o!r rem$ies available to !
 head ( an executive ag5cy or any o!r   
(ficial ( ! ,f$]al ,gov]nm5t on ! basis 
( a det]m9ation ( a false c]tification  
"u subsection 7b74  7f7 ,executive ag5cy
 def9$ ,9 ?is section1 ! t]m executive  
ag5cy has ! mean+ giv5 su* t]m 9 section
 #acc ( title #da1 ,unit$ ,/ates ,code4 
#bje4 ,sanctions ) respect to !         
provision ( vessels or %ipp+ s]vices to 
transport c]ta9 goods relat$ to         
prolif]ation1 t]rorism1 or crim9al      
activities ( ,nor? ,korea  7a7 ,brief+  
requir$ ,n lat] ?an #ahj days aft] !    
date ( ! enactm5t ( ?is ,act1 & e #ahj  
days !reaft]1 ! ,presid5t %all provide  
to ! appropriate congressional          
committees a brief+ id5tify+ =eign ports
 & airports ^: inspections ( %ips1      
aircraft1 & conveyances orig9at+ 9 ,nor?
 ,korea1 c>ry+ ,nor? ,korean prop]ty1 or
 op]at$ by ! ,gov]nm5t ( ,nor? ,korea   
are defici5t to effectively prev5t !    
facilitation ( any ( ! activities       
describ$ 9 section #ajd7;a74  7b7       

,enhanc$ cu/oms inspection requirem5ts  
,n lat] ?an #ahj days aft] !            
id5tification ( any port or airport     
pursuant to subsection 7a71 ! ,secret>y 
( ,homel& ,security %all promulgate     
regulations impos+ enhanc$ inspection   
requirem5ts on any c>go l&$ 9 ! ,unit$  
,/ates or ent]+ int]/ate comm]ce t has  
be5 transport$ ?r\gh su* port or        
airport4  7c7 ,seizure & =feiture ,a    
vessel1 aircraft1 or conveyance us$ to  
facilitate any ( ! activities describ$ 9
 section #ajd7;a7 t comes )9 !          
jurisdiction ( ! ,unit$ ,/ates may be   
seiz$ & =feit$ "u *apt] #df ( title #ah1
 ,unit$ ,/ates ,code1 or "u *apt] #d (  
title #ai1 ,unit$ ,/ates ,code1 & !     
proce$s ( any su* =feiture %all be      
available = ! purposes describ$ 9       
section #djc4  #bjf4 ,int]national      
assi/ance  7a7 ,condition on provision (
 unit$ /ates funds to an int]national   
f9ancial in/itution ,funds appropriat$ =
 paym5t to an int]national f9ancial     
in/itution 7z def9$ 9 section           

#agja7;c77#b7 ( ! ,int]national         
,f9ancial ,in/itutions ,act 7#bb        
,u4,s4,c4 #bfbr7c77#b777 %all n be made 
available to ! in/itution unless !      
in/itution provides assurances to !     
,secret>y ( ,/ate t ! funds w n be us$ =
 assi/ance to ! ,gov]nm5t ( ,nor?       
,korea4  7b7 ,opposition to use (       
int]national f9ancial in/itution funds =
 nor? korea ,! ,unit$ ,/ates ,executive 
,director at ea* int]national f9ancial  
in/itution 7z s def9$7 %all use ! voice1
 vote1 & influ5ce ( ! ,unit$ ,/ates to  
oppose ! provision by ! in/itution ( any
 assi/ance to ! ,gov]nm5t ( ,nor?       
,korea4  7c7 ,transactions 9 def5se     
articles & def5se s]vices  7#a7 ,9 g5]al
 ,! ,presid5t %all )hold assi/ance "u "p
 ,i ( ! ,=eign ,assi/ance ,act ( #aifa  
7#bb ,u4,s4,c4 #baea et seq47 to !      
gov]nm5t ( any c\ntry t provides def5se 
articles & def5se s]vices to ! ,gov]nm5t
 ( ,nor? ,korea or receives def5se      
articles & def5se s]vices f ! ,gov]nm5t 
( ,nor? ,korea4  7#b7 ,applicability ,! 

prohibition describ$ 9 p>agraph 7#a7    
%all t]m9ate on ! date t is #b ye>s aft]
 ! date on :i* su* =eign gov]nm5t ceases
 to provide def5se articles & def5se    
s]vices to ! ,gov]nm5t ( ,nor? ,korea1  
or to pur*ase or receive def5se articles
 & def5se s]vices f ! ,gov]nm5t ( ,nor? 
,korea4  7#c7 ,waiv] ,assi/ance may be  
furni%$ to a =eign gov]nm5t describ$ 9  
p>agraph 7#a7 if ! ,presid5t makes !    
det]m9ations prescrib$ 9 subsection 7b7 
( section #fbj;,g ( ! ,=eign ,assi/ance 
,act ( #aifa1 z am5d$ 7#bb ,u4,s4,c4    
#bcgg7;b774  #bjg4 ,exclusion1 waiv]1 & 
removal ( designation  7a7 ,exclusions  
,! foll[+ activities %all n apply )     
respect to ! requirem5t "u subsection   
7a71 7b71 7c71 or 7d7 ( section #ajd to 
designate a p]son1 =eign gov]nm5t1 or   
f9ancial in/itution = purposes ( impos+ 
a sanction or sanctions on ! designat$  
p]son3  7#a7 ,activities subject to !   
report+ requirem5ts ( title ,v ( !      
,national ,security ,act ( #aidg 7#ej   
,u4,s4,c4 #dac et seq471 or to any      

au?oriz$ intellig5ce activities ( !     
,unit$ ,/ates4  7#b7 ,any transaction ! 
exclusive purpose = :i* is to provide   
humanit>ian assi/ance to ! p ( ,nor?    
,korea4  7#c7 ,any transaction !        
exclusive purpose = :i* is to import    
food products into ,nor? ,korea1 if su* 
food items are n def9$ z luxury goods4  
7#d7 ,any transaction necess>y to ma9ta9
 a diplomatic or consul> relation%ip "u 
! ,agreem5t betwe5 ! ,unit$ ,nations & !
 ,unit$ ,/ates ( ,am]ica reg>d+ !       
,headqu>t]s ( ! ,unit$ ,nations1 sign$  
,june #bf1 #aidg1 & ent]$ into =ce      
,novemb] #ba1 #aidg1 or "u ! ,vi5na     
,conv5tion on ,consul> ,relations1 sign$
 ,april #bd1 #aifc1 & ent]$ into =ce on 
,m>* #ai1 #aifg4  7#e7 ,any transaction 
! exclusive purpose = :i* is to import  
f]tiliz]s1 pe/icides1 agricultural      
equipm5t1 or m$ical supplies or equipm5t
 into ,nor? ,korea1 provid$ t su*       
supplies or equipm5t are n controll$    
"u--  7,a7 ! ,export ,adm9i/ration ,act 
( #aigi 7#ej ,u4,s4,c4 ,app4 #bdja et   

seq471 z cont9u$ 9 effect "u !          
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq472     
7,b7 ! ,arms ,export ,control ,act 7#bb 
,u4,s4,c4 #bgea et seq472  7,c7 "p ,b ( 
title ,,viii ( ! ,nucle> ,prolif]ation  
,prev5tion ,act ( #aiid 7#bb ,u4,s4,c4  
#fcja et seq472 or  7,d7 ! ,*emical &   
,biological ,weapons ,control & ,w>f>e  
,elim9ation ,act ( #aiia 7#bb ,u4,s4,c4 
#efja et seq474  7b7 ,waiv]s  7#a7 ,9   
g5]al ,! ,presid5t may waive1 on a      
case-by-case basis1 & = a p]iod n to    
exce$ "o ye>1 ! requirem5t "u subsection
 7a7 or 7b7 ( section #ajd to designate 
a p]son1 =eign gov]nm5t1 or f9ancial    
in/itution1 or to impose a sanction or  
sanctions on ! designat$ p]son1 if !    
,presid5t submits to ! appropriate      
congressional committees a writt5       
det]m9ation t ! waiv] meets ! foll[+    
requirem5ts3  7,a7 ,! waiv] is vital to 
! economic or national security int]e/s 
( ! ,unit$ ,/ates4  7,b7 ,! waiv] w     
advance ! purposes set =? 9 section #d (

 ! ,nor? ,korea ,human ,rights ,act (   
#bjjd 7#bb ,u4,s4,c4 #ghja et seq474    
7,c7 ,! waiv] is = ! b5efit ( a f9ancial
 in/itution t--  7i7 has block$ all     
,nor? ,korean prop]ty deposit$ 9 su*    
f9ancial in/itution1 p5d+ an audit ( !  
orig9 ( su* prop]ty & ! implem5tation ( 
safegu>ds to ensure t ! prop]ty is n us$
 to facilitate any ( ! activities       
describ$ 9 section #ajd7;a72 &  7ii7 is 
provid+ good-fai? coop]ation ) !        
inve/igation ( any ( ! activities       
describ$ 9 section #ajd7;a7 or !        
en=cem5t ( ! provisions ( ?is ,act4     
7,d7 ,! waiv] is = ! b5efit ( a p]son1  
=eign gov]nm5t1 or f9ancial in/itution t
 is provid+ good-fai? coop]ation ) !    
inve/igation ( any ( ! activities       
describ$ 9 section #ajd7;a7 & ! en=cem5t
 ( ?is ,act4  7,e7 ,! waiv] is = !      
b5efit ( a p]son1 =eign gov]nm5t1 or    
f9ancial in/itution t provides          
und]writ+1 f9ancial1 insurance1         
re9surance1 reflagg+1 transportation1 or
 f9ancial messag+ s]vices1 & :o has     

ex]cis$ due dilig5ce 9 e/abli%+ & en=c+ 
(ficial policies1 proc$ures1 & controls 
to ensure t ! p]son1 =eign gov]nm5t1 or 
f9ancial in/itution 7z ! case may be7   
does n facilitate any ( ! activities    
describ$ 9 section #ajd7;a74  7,f7 ,9 ! 
abs5ce ( ! waiv]1 ! imposition ( !      
sanction or sanctions w\ld h a sev]e &  
adv]se humanit>ian impact on ! p ( ,nor?
 ,korea & su* impact sub/antially       
outweighs ! int]e/ ( ! ,unit$ ,/ates 9  
en=c+ ! provisions ( ?is ,act4  7#b7    
,gov]nm5t ( ,nor? ,korea ,! ,presid5t   
may waive1 on a case-by-case basis1 & = 
a p]iod n to exce$ "o ye>1 ! requirem5t 
"u section #ajd7;c7 to designate !      
,gov]nm5t ( ,nor? ,korea1 or to impose a
 sanction or sanctions on ! ,gov]nm5t ( 
,nor? ,korea1 if ! ,presid5t submits to 
! appropriate congressional committees a
 writt5 det]m9ation t ! waiv] meets !   
requirem5ts describ$ 9 p>agraph         
7#a77;,f74  7c7 ,removal ( sanctions ,! 
,presid5t may prescribe rules &         
regulations = ! removal ( sanctions on a

 p]son1 =eign gov]nm5t1 or f9ancial     
in/itution t is designat$ "u subsection 
7a71 7b71 or 7d7 ( section #ajd & !     
removal ( designations ( a p]son1 =eign 
gov]nm5t1 or f9ancial in/itution )      
respect to su* sanctions if ! ,presid5t 
det]m9es t ! designat$ p]son has        
v]ifiably ceas$ its p>ticipation 9 any (
 ! activities describ$ 9 section        
#ajd7;a7 & is coop]at+ ) ! inve/igation 
( su* activities & c>ry+ out ?is ,act4  
7d7 ,f9ancial s]vices = humanit>ian &   
consul> activities ,! ,presid5t may     
promulgate regulations1 rules1 & polices
 z may be necess>y to facilitate !      
provision ( f9ancial s]vices by a =eign 
f9ancial in/itution t is n controll$ by 
! ,gov]nm5t ( ,nor? ,korea 9 support ( !
 activities subject to exclusion "u ?is 
section4  ,,iii ,promotion ( human      
rights & dis9ve/m5t  #cja4 ,in=mation   
te*nology ,section #ajd ( ! ,nor?       
,korean ,human ,rights ,act ( #bjjd 7#bb
 ,u4,s4,c4 #ghad7 is am5d$ by ins]t+    
aft] subsection 7c7 ! foll[+ new        

subsection3  7d7 ,in=mation te*nology   
/udy ,n lat] ?an #ahj days aft] ! date (
 ! enactm5t ( ?is subsection1 !         
,presid5t %all submit to ! appropriate  
congressional committees a classifi$    
report sett+ =? a detail$ plan = mak+   
unre/rict$1 unmonitor$1 & inexp5sive    
electronic mass communications available
 to ! p ( ,nor? ,korea4  4  #cjb4       
,disclosures to ,securities & ,ex*ange  
,commission relat+ to sanctionable      
activities  7a7 ,9 g5]al ,section #ac ( 
! ,securities ,ex*ange ,act ( #aicd 7#ae
 ,u4,s4,c4 #ghm7 is am5d$ by add+ at !  
end ! foll[+ new subsection3  7s7       
,disclosure ( c]ta9 activities relat+ to
 ,nor? ,korea1 t]rorism1 & !            
prolif]ation ( weapons ( mass de/ruction
  7#a7 ,g5]al disclosure requir$ ,ea*   
issu] requir$ to file an annual or      
qu>t]ly report "u subsection 7a7 %all   
include ) su* report a /atem5t ( :e!r1  
dur+ ! p]iod s9ce ! issu] made ! la/ su*
 report1 ! issu] or any affiliate ( !   
issu]--  7,a7 0 designat$ "u section    

#ajd ( ! ,nor? ,korea ,sanctions        
,en=cem5t ,act ( #bjac1 or engag$ 9 any 
( ! activities describ$ 9 section       
#ajd7;a7 ( su* ,act2 or  7,b7 kn[+ly    
conduct$ any transaction or deal+ ) any 
p]son designat$ pursuant to subsection  
7a71 7b71 7c71 or 7d7 ( section #ajd ( !
 ,nor? ,korea ,sanctions ,en=cem5t ,act 
( #bjac4  7#b7 ,specific disclosure     
requir$ ,if an issu] reports "u p>agraph
 7#a7 t ! issu] or an affiliate ( !     
issu] has engag$ 9 any activity describ$
 9 t p>agraph1 ! issu] %all include ) ! 
/atem5t requir$ "u t p>agraph a detail$ 
description ( ea* su* activity1         
includ+--  7,a7 ! nature & ext5t ( !    
activity2  7,b7 ! rev5ues & pr(its1 if  
any1 attributable to ! activity2 &  7,c7
 :e!r ! issu] or ! affiliate ( ! issu]  
7z ! case may be7 int5ds to cont9ue !   
activity4  7#c7 ,inve/igation (         
disclosures ,:5 ! ,commission receives a
 report "u p>agraph 7#a7 f an issu] t ! 
issu] or an affiliate ( ! issu] has     
engag$ 9 any activity describ$ 9 t      

p>agraph1 ! ,presid5t %all--  7,a7      
initiate an inve/igation into ! possible
 imposition ( sanctions "u ! ,nor?      
,korea ,sanctions ,en=cem5t ,act (      
#bjac1 ! ,int]national ,em]g5cy         
,economic ,p[]s ,act 7#ej ,u4,s4,c4     
#agja et seq471 ,executive ,ord] #acbbd1
 ,executive ,ord] #acchb1 ,executive    
,ord] #aceea1 ,executive ,ord] #acegj1  
or any o!r provision ( law2 &  7,b7 n   
lat] ?an #ahj days aft] initiat+ su* an 
inve/igation1 make su* det]m9ations z   
are requir$ by section #ajd ( ! ,nor?   
,korea ,sanctions ,en=cem5t ,act (      
#bjac4  4  7b7 ,effective date ,!       
am5dm5t made by subsection 7a7 %all take
 effect ) respect to reports requir$ to 
be fil$ ) ! ,securities & ,ex*ange      
,commission aft] a date t is #ij days   
aft] ! date ( ! enactm5t ( ?is ,act4    
#cjc4 ,au?ority ( ,/ate & local         
gov]nm5ts to dive/ f companies t inve/ 9
 ,nor? ,korea  7a7 ,s5se ( congress ,x  
is ! s5se ( ,congress t ! ,unit$ ,/ates 
%\ld support ! decision ( any ,/ate or  

local gov]nm5t t = moral1 prud5tial1 or 
reputational reasons dive/s f1 or       
prohibits ! inve/m5t ( assets ( su*     
,/ate or local gov]nm5t 91 a p]son t    
engages 9 inve/m5t activities 9 ,nor?   
,korea1 if ,nor? ,korea is subject to   
economic sanctions impos$ by ! ,unit$   
,/ates4  7b7 ,au?ority ,to dive/        
,not)/&+ any o!r provision ( law1 a     
,/ate or local gov]nm5t may adopt &     
en=ce measures t meet ! requirem5ts (   
subsection 7d7 to dive/ ! assets ( su*  
,/ate or local gov]nm5t f1 or prohibit  
inve/m5t ( ! assets ( su* ,/ate or local
 gov]nm5t 91 any p]son t su* ,/ate or   
local gov]nm5t det]m9es1 us+ cr$ible    
in=mation available to ! public1 engages
 9 inve/m5t activities 9 ,nor? ,korea   
describ$ 9 subsection 7c74  7c7         
,inve/m5t activities describ$ ,a p]son  
engages 9 inve/m5t activities 9 ,nor?   
,korea describ$ 9 ?is subsection if !   
p]son--  7#a7 has an inve/m5t ( #aj1jjj 
or m 9 ,nor? ,korea2 or  7#b7 is a      
f9ancial in/itution t ext5ds #aj1jjj or 

m 9 cr$it to ano!r p]son1 = #de days or 
m1 if su* p]son w use su* cr$it =       
inve/m5t 9 ,nor? ,korea4  7d7           
,requirem5ts ,any measure tak5 by a     
,/ate or local gov]nm5t "u subsection   
7b7 %all meet ! foll[+ requirem5ts3     
7#a7 ,notice ,! ,/ate or local gov]nm5t 
%all provide writt5 notice to ea* p]son 
) respect to :i* a measure "u ?is       
section is to be appli$4  7#b7 ,tim+ ,! 
measure appli$ "u ?is section %all apply
 to a p]son n e>li] ?an ! date t is #ij 
days aft] ! date on :i* writt5 notice is
 provid$ to su* p]son "u p>agraph 7#a74 
7#c7 ,opportunity = he>+ ,! ,/ate or    
local gov]nm5t at issue %all provide an 
opportunity to comm5t 9 writ+ to ea*    
p]son ) respect to :i* a measure is to  
be appli$ "u ?is section4 ,if su* p]son 
demon/rates to su* ,/ate or local       
gov]nm5t t su* p]son does n engage 9    
inve/m5t activities 9 ,nor? ,korea      
describ$ 9 subsection 7c71 su* measure  
%all n apply to su* p]son4  7#d7 ,s5se (
 congress on avoid+ errone\s t>get+ ,x  

is ! s5se ( ,congress t a ,/ate or local
 gov]nm5t %\ld n adopt a measure "u     
subsection 7b7 ) respect to a p]son     
unless su* ,/ate or local gov]nm5t has  
made e ef=t to avoid errone\sly t>get+  
su* p]son & has v]ifi$ t su* p]son      
engages 9 inve/m5t activities 9 ,nor?   
,korea describ$ 9 subsection 7c74  7e7  
,notice to dep>tm5t ( ju/ice ,n lat] ?an
 #cj days aft] a ,/ate ( local gov]nm5t 
applies a measure "u ?is section1 su*   
,/ate or local gov]nm5t %all notify !   
,attorney ,g5]al ( su* measure4  7f7    
,nonpreemption ,a measure appli$ by a   
,/ate or local gov]nm5t au?oriz$ "u     
subsection 7b7 or 7i7 is n preempt$ by  
any ,f$]al law or regulation4  7g7      
,def9itions ,9 ?is section3  7#a7 ,asset
  7,a7 ,9 g5]al ,except z provid$ 9     
subp>agraph 7,b71 ! t]m asset ref]s to  
public monies & includes any p5sion1    
retirem5t1 annuity1 or end[m5t fund1 or 
simil> in/rum5t1 t is controll$ by a    
,/ate or local gov]nm5t4  7,b7          
,exception ,! t]m asset does n include  

employee b5efit plans cov]$ by title ,i 
( ! ,employee ,retirem5t ,income        
,security ,act ( #aigd 7#bi ,u4,s4,c4   
#ajja et seq474  7#b7 ,inve/m5t ,! t]m  
inve/m5t includes--  7,a7 a commitm5t or
 contribution ( funds or prop]ty2  7,b7 
a loan or o!r ext5sion ( cr$it2 &  7,c7 
! entry into or r5ewal ( a contract =   
goods or s]vices4  7h7 ,effective date  
7#a7 ,9 g5]al ,except z provid$ 9       
p>agraph 7#b7 or subsection 7i71 ?is    
section applies to measures appli$ by a 
,/ate or local gov]nm5t be=e1 on1 or    
aft] ! date ( ! enactm5t ( ?is ,act4    
7#b7 ,notice requirem5ts ,except z      
provid$ 9 subsection 7i71 subsections   
7d7 & 7e7 apply to measures appli$ by a 
,/ate or local gov]nm5t on or aft] !    
date ( ! enactm5t ( ?is ,act4  7i7      
,au?orization = prior appli$ measures   
7#a7 ,9 g5]al ,not)/&+ any o!r provision
 ( ?is section or any o!r provision (   
law1 a ,/ate or local gov]nm5t may en=ce
 a measure 7)\t reg>d to ! requirem5ts (
 subsection 7d71 except z provid$ 9     

p>agraph 7#b77 appli$ by su* ,/ate or   
local gov]nm5t be=e ! date ( ! enactm5t 
( ?is ,act t provides = ! dive/m5t (    
assets ( su* ,/ate or local gov]nm5t f1 
or prohibits ! inve/m5t ( ! assets ( su*
 ,/ate or local gov]nm5t 91 any p]son t 
su* ,/ate or local gov]nm5t det]m9es1   
us+ cr$ible in=mation available to !    
public1 engages 9 inve/m5t activities 9 
,nor? ,korea 7det]m9$ )\t reg>d to      
subsection 7c77 or o!r bus9ess          
activities 9 ,nor? ,korea t are id5tifi$
 9 su* measure4  7#b7 ,application (    
notice requirem5ts ,a measure describ$ 9
 p>agraph 7#a7 %all be subject to !     
requirem5ts ( p>agraphs 7#a7 & 7#b7 & ! 
fir/ s5t5ce ( p>agraph 7#c7 ( subsection
 7d7 on & aft] ! date t is two ye>s aft]
 ! date ( ! enactm5t ( ?is ,act4  7j7   
,rule ( con/ruction ,no?+ 9 ?is ,act or 
any o!r provision ( law au?oriz+        
sanctions ) respect to ,nor? ,korea %all
 be con/ru$ to abridge ! au?ority ( a   
,/ate or local gov]nm5t to issue & en=ce
 rules gov]n+ ! safety1 s\ndness1 &     

solv5cy ( a f9ancial in/itution subject 
to its jurisdiction or ! bus9ess (      
insurance pursuant to ! ,act ( ,m>* #i1 
#aide 7#ae ,u4,s4,c4 #ajaa et seq47     
7commonly kn[n z ! ,mc,carran-,f]guson  
,act74  #cjd4 ,safe h>bor = *anges (    
inve/m5t policies by asset manag]s  7a7 
,9 g5]al ,section #ac7;c77#a7 ( !       
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#ac7;c77#a77 is am5d$-- 
7#a7 9 subp>agraph 7,a71 by /rik+ or at 
! end2  7#b7 9 subp>agraph 7,b71 by     
/rik+ ! p]iod & ins]t+ 2 or2 &  7#c7 by 
add+ at ! end ! foll[+3  7,c7 engage 9  
inve/m5t activities 9 ,nor? ,korea      
describ$ 9 section #cjc ( ! ,nor? ,korea
 ,sanctions ,en=cem5t ,act ( #bjac4  4  
7b7 ,securities & ex*ange commission    
regulations ,n lat] ?an #abj days aft] !
 date ( ! enactm5t ( ?is ,act1 !        
,securities & ,ex*ange ,commission %all 
issue any revisions ! ,commission       
det]m9es to be necess>y to ! regulations
 requir+ disclosure by ea* regi/]$      
inve/m5t company t dive/s itself (      

securities 9 accordance ) section       
#ac7;c7 ( ! ,inve/m5t ,company ,act (   
#aidj 7#ae ,u4,s4,c4 #hj;a-#ac7;c771    
includ+ dive/m5ts ( securities 9        
accordance ) subp>agraph 7,c7 ( su*     
section1 z add$ by subsection 7a77#c74  
#cje4 ,s5se ( ,congress reg>d+ c]ta9    
,,erisa plan inve/m5ts ,x is ! s5se (   
,congress t a fiduci>y ( an employee    
b5efit plan1 z def9$ 9 section #c7c7 ( !
 ,employee ,retirem5t ,income ,security 
,act ( #aigd 7#bi ,u4,s4,c4 #ajjb7c771  
may dive/ plan assets f1 or avoid inve/+
 plan assets 91 any p]son ! fiduci>y    
det]m9es engages 9 inve/m5t activities 9
 ,nor? ,korea describ$ 9 section #djf ( 
?is ,act1 )\t brea*+ ! responsibilities1
 obligations1 or duties impos$ ^u su*   
fiduci>y by subp>agraph 7,a7 or 7,b7 (  
section #djd7;a77#a7 ( ! ,employee      
,retirem5t ,income ,security ,act (     
#aigd 7#bi ,u4,s4,c4 #aajd7;a77#a771    
if--  7#a7 su* fiduci>y makes su*       
det]m9ation us+ cr$ible in=mation t is  
available to ! public2 &  7#b7 su*      

fiduci>y prud5tly det]m9es t ! result ( 
su* dive/m5t or avoidance ( inve/m5t    
w\ld n be expect$ to provide ! employee 
b5efit plan )--  7,a7 a l[] rate (      
return ?an alt]native inve/m5ts )       
comm5surate degrees ( risk2 or  7,b7 a  
high] degree ( risk ?an alt]native      
inve/m5ts ) comm5surate rates ( return4 
#cjf4 ,report on ,nor? ,korean prison   
camps  7a7 ,9 g5]al ,! ,secret>y ( ,/ate
 %all submit to ! appropriate           
congressional committees a report       
describ+1 ) respect to ea* political    
prison camp 9 ,nor? ,korea--  7#a7 !    
camp's e/imat$ prison] population2  7#b7
 ! camp's geographical coord9ates2  7#c7
 ! reasons = conf9em5t ( ! prison]s2    
7#d7 ! camp's prim>y indu/ries &        
products1 & ! end us]s ( any goods      
produc$ 9 su* camp2  7#e7 ! natural     
p]sons & ag5cies responsible =          
conditions 9 ! camp2  7#f7 ! conditions 
"u :i* prison]s are conf9$1 ) respect to
 ! adequacy ( food1 %elt]1 m$ical c>e1  
work+ conditions1 & reports (           

ill-treatm5t ( prison]s2 &  7#g7 imag]y1
 to include satellite imag]y ( ea* su*  
camp1 9 a =mat t1 if publi%$1 w\ld n    
compromise ! s\rces & me?ods us$ by !   
intellig5ce ag5cies ( ! ,unit$ ,/ates to
 capture geospatial imag]y4  7b7 ,=m ,! 
report requir$ "u subsection 7a7 %all be
 includ$ 9 ! fir/ report requir$ to be  
submitt$ to ,congress aft] ! date ( !   
enactm5t ( ?is ,act "u sections #aaf7;d7
 & #ejb;,b7b7 ( ! ,=eign ,assi/ance ,act
 ( #aifa 7#bb ,u4,s4,c4 #baean7d7 &     
#bcjd7;b77 7relat+ to ! annual human    
rights report74  #cjg4 ,limits on       
jurisdictional immunity ,! exception to 
immunity provid$ 9 section #afje;,a (   
title #bh1 ,unit$ ,/ates ,code1 applies 
to ,nor? ,korea1 to ! same ext5t z any  
=eign /ate 7z def9$ 9 section #afjc (   
su* title71 & 7z provid$ 9 section      
#afje7;c7 ( su* title7 to any (ficial1  
employee1 or ag5t ( ,nor? ,korea1 )\t   
reg>d to :e!r or n ,nor? ,korea is      
designat$ z a /ate sponsor ( t]rorism1 z
 def9$ 9 section #afje;,a7h7 ( su*      

title4  ,,iv ,g5]al au?orities  #dja4   
,susp5sion ( sanctions & o!r measures   
7#a7 ,9 g5]al ,any sanction or o!r      
measure requir$ by title ,,ii or ,,iii (
 ?is ,act 7or any am5dm5t made by title 
,,ii or ,,iii ( ?is ,act7 may be susp5d$
 = up to #cfe days ^u c]tification by ! 
,presid5t to ! appropriate congressional
 committees t ! ,gov]nm5t ( ,nor? ,korea
 has--  7,a7 v]ifiably ceas$ its        
c\nt]feit+ ( ,unit$ ,/ates curr5cy1     
includ+ ! surr5d] or de/ruction (       
specializ$ mat]ials & equipm5t us$ = or 
p>ticul>ly suitable = c\nt]feit+2  7,b7 
tak5 significant /eps t[>d f9ancial     
transp>5cy to comply ) g5]ally accept$  
protocols to cease & prev5t ! laund]+ ( 
monet>y in/rum5ts2  7,c7 tak5           
significant /eps t[>d v]ification ( its 
compliance ) ,unit$ ,nations ,security  
,c\ncil ,resolutions #afie1 #agah1      
#ahgd1 #bjhg1 & #bjid2  7,d7 tak5       
significant /eps t[>d acc\nt+ = &       
repatriat+ ! citiz5s ( o!r c\ntries     
abduct$ by ! ,gov]nm5t ( ,nor? ,korea2  

7,e7 tak5 significant /eps t[>d         
v]ification ( its compliance ) ! ,jo9t  
,/atem5t ( ,septemb] #ai1 #bjje2  7,f7  
accept$ & begun to abide by             
int]nationally recogniz$ /&>ds = !      
di/ribution & monitor+ ( humanit>ian    
aid2  7,g7 provid$ cr$ible assurances t 
x w n support fur!r acts ( int]national 
t]rorism2 &  7,h7 tak5 significant &    
v]ifi$ /eps to improve liv+ conditions 9
 its political prison camps4  7#b7      
,r5ewal ( susp5sion ,! susp5sion        
describ$ 9 p>agraph 7#a7 may be r5ew$ = 
an additional consecutive p]iod ( #cfe  
days ^u c]tification by ! ,presid5t to !
 appropriate congressional committees t 
! ,gov]nm5t ( ,nor? ,korea--  7,a7 has  
cont9u$ to make significant progress    
t[>d compliance ) ! conditions describ$ 
9 p>agraph 7#a7 dur+ ! previ\s ye>2 &   
7,b7 meets #b or m ( ! requirem5ts      
describ$ 9 p>agraphs 7#a7 ?r\gh 7#f7 (  
section #djb4  #djb4 ,t]m9ation (       
sanctions & o!r measures ,any sanction  
or o!r measure requir$ by title ,,ii or 

,,iii & ( ?is ,act 7or any am5dm5t made 
by title ,,ii or ,,iii ( ?is ,act7 %all 
t]m9ate on ! date on :i* ! ,presid5t    
det]m9es & c]tifies to ! appropriate    
congressional committees t ! ,gov]nm5t (
 ,nor? ,korea has met ! requirem5ts (   
section #dja1 & has also--  7#a7        
completely1 v]ifiably1 & irrev]sibly    
dismantl$ all ( its nucle>1 *emical1    
biological1 & radiological weapons      
programs1 includ+ all programs = !      
developm5t ( sy/ems design$ 9 :ole or 9 
"p = ! deliv]y ( su* weapons2  7#b7     
releas$ all political prison]s1 includ+ 
! citiz5s ( ,nor? ,korea deta9$ 9 !     
,nor? ,korea's political prison camps2  
7#c7 ceas$ its c5sor%ip ( peaceful      
political activity2  7#d7 has tak5      
significant /eps t[>d ! e/abli%m5t ( an 
op51 transp>5t1 & repres5tative society2
  7#e7 has fully acc\nt$ = all citiz5s (
 all nations abduct$ by ! ,gov]nm5t (   
,nor? ,korea2 &  7#f7 made public       
commitm5ts to1 & cont9ues to make       
significant progress t[>d--  7,a7       

e/abli%+ an indep5d5t judici>y2 &  7,b7 
respect+ ! human rights & basic fre$oms 
recogniz$ 9 ! ,univ]sal ,decl>ation (   
,human ,rights4  #djc4 ,nor? ,korea     
,en=cem5t & ,humanit>ian ,fund  7a7     
,e/abli%m5t ,!re is e/abli%$ 9 !        
,treasury ( ! ,unit$ ,/ates a fund to be
 kn[n z ! ,nor? ,korea ,en=cem5t &      
,humanit>ian ,fund 79 ?is section ref]r$
 to z ! ,fund74  7b7 ,deposits ,all     
rev5ues d]iv$ f any crim9al1 civil1 or  
adm9i/rative =feitures ( prop]ty involv$
 9 any ( ! activities describ$ 9 section
 #ajd7;a71 & all rev5ues d]iv$ f any    
agreem5t to def] prosecution = any su*  
activities1 & all rev5ues d]iv$ f       
p5alties assess$ "u section #bjf ( !    
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agje7 aris+ f      
violations ( section #ajd7;a7 or !      
regulations promulgat$ "u section       
#ajd7;f7 or section #djd1 %all be       
deposit$ into ! ,fund1 & may be         
transf]r$ & consolidat$ on ! books ( !  
,treasury into a special acc\nt = !     

purposes describ$ 9 subsection 7c74  7c7
 ,uses ,!re are au?oriz$ to be          
appropriat$ f ! ,fund ea* fiscal ye>--  
7#a7 su* am\nts z %all be necess>y &    
appropriate = ! adm9i/ration ( ! ,fund2 
&  7#b7 )\t reg>d to fiscal ye>         
limitation1 am\nts n exce$+--  7,a7 =   
sal>ies1 b5efits1 & exp5ses = p]sons    
assign$ by ! ,presid5t to conduct       
inve/igations & en=ce sanctions z       
prescrib$ 9 ?is ,act1 #e1jjj1jjj2  7,b7 
= any ( ! purposes describ$ 9 section   
#ebd7;c7 ( title #bh1 ,unit$ ,/ates     
,code1 or section #igjc ( title #ca1    
,unit$ ,/ates ,code1 ) respect to       
inve/igations & en=cem5t activities "u  
title ,i or title ,,ii1 #e1jjj1jjj2     
7,c7 to c>ry out section #ajc ( ! ,nor? 
,korea ,human ,rights ,act ( #bjjd 7#bb 
,u4,s4,c4 #ghac71 #c1jjj1jjj2  7,d7 to  
c>ry out section #ajd ( ! ,nor? ,korea  
,human ,rights ,act ( #bjjd 7#bb        
,u4,s4,c4 #ghad71 #e1jjj1jjj2  7,e7 to  
c>ry out section #bjc ( ! ,nor? ,korea  
,human ,rights ,act ( #bjjd 7#bb        

,u4,s4,c4 #ghcc71 #e1jjj1jjj2 &  7,f7 to
 c>ry out subsection 7d7 ( section #ajd 
( ! ,nor? ,korean ,human ,rights ,act ( 
#bjjd 7#bb ,u4,s4,c4 #ghad7 7z add$ by  
section #cja ( ?is ,act71 #b1jjj1jjj4   
7d7 ,transf] ,to prev5t ! accumulation (
 excessive surpluses 9 ! ,fund1 9 any   
fiscal ye> an am\nt specifi$ 9 an annual
 appropriation law may be transf]r$ out 
( ! ,fund & deposit$1 9 equal           
proportions1 into ! funds e/abli%$ "u   
section #igjc ( title #ca1 ,unit$ ,/ates
 ,code1 & "u section #ebd7;c7 ( title   
#bh1 ,unit$ ,/ates ,code4  7e7 ,sunset  
,! ,fund e/abli%$ "u ?is section %all   
cease to exi/ on ,septemb] #cj1 #bjbc1 &
 any unexp5d$ funds rema9+ 9 ! ,fund    
aft] su* date %all be transf]r$ 9       
accordance ) subsection 7d74  #djd4     
,regulations  7a7 ,9 g5]al ,! ,presid5t 
is au?oriz$ to promulgate su* rules &   
regulations z may be necess>y to c>ry   
out ! provisions ( ?is ,act4  7b7 ,rule 
( con/ruction ,no?+ 9 ?is ,act or any   
am5dm5t made by ?is ,act %all be con/ru$

 to limit ! au?ority ( ! ,presid5t to   
designate or sanction p]sons pursuant to
 ,executive ,ord] ,no4 #acchb1 #acbbd1  
#aceea1 or o!rwise pursuant to !        
,int]national ,em]g5cy ,economic ,p[]s  
,act 7#ej ,u4,s4,c4 #agja et seq474     
#dje4 ,effective date ,except z o!rwise 
provid$ 9 ?is ,act1 ?is ,act & !        
am5dm5ts made by ?is ,act %all take     
effect on ! date ( ! enactm5t ( ?is     
,act4