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North Korea heads for the ATM

Digital Chosun Ilbo reported today that North Korea would transfer its money frozen by Americans at the Macao-based Banco Delta Asia to Mongolian Golomt Bank.

The UB Post wrote about a visit by Daniel Glaser, US Treasury Deputy Assistant, to Ulaanbaatar in June 2006. This happened after two North Korean officials, who were carrying US$1 million and JP¥20 million, were arrested in February 2006 at the airport. The money was originally intended to be deposited to Golomt Bank. At that time, Golomt Bank did not give us official press comment on it.

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