North Korea's weak auto industry just received another blow
The sanctions target industries and individuals outside of North Korea engaging in business there, restricting them from making transactions with American banks or from doing business on American soil.
They are a response to a January nuclear test detected within the country and what state-run media outlets called a satellite launch, but outsiders have labeled cover for a long-range missile test.
The sanctions will likely affect Chinese companies that supply North Korean carmakers with over 90% of their parts, Automotive News reported.
North Korea is a strange place. Along with food shortages, alleged human rights abuses, and massive economic disparity between it and its estranged sibling South Korea, the North Korean car industry is meager.
North Korean vehicle production has increased to about 10,000 units a year, putting the total number of vehicles on the road in the country of 30 million people to around 1 million, Automotive News also reported.
By comparison, South Korea has over 20 million cars on the road, and in 2015 produced 4.1 million cars, many of which compete in car markets around the world. The latest brand, Hyundai offshoot Genesis, hopes to do battle in the packed luxury vehicle market along with the likes of BMW and Mercedes.
Here are some fine examples from Pyeonghwa Motors, one of North Koreas two car companies. Their slogan: "Go to the World with United Power!"
Go, indeed.