North Korea Shifting from Super Notes to Super Bonds?

by Richardson ~ July 28th, 2006. Filed under: Counterfeiting, Economics, Uncategorized.

To early to tell if this has anything at all to do with North Korea’s U.S. currency counterfeiting operations, but it would not be a leap for them to be involved in fake bonds:

Police recovered a briefcase containing a hoard of probably forged United States Treasury bonds worth $500 million during the investigation of a local theft, Seoul’s Gwanak Police Station announced. Police said they are looking into the possible involvement of international crime networks.

[. . .]

The bonds were confiscated and sent to the Ministry of Finance and the National Institute of Scientific Investigation for evaluation of their authenticity. The police said specialists assume the U.S. bonds were forged.

H/T Dram Man.

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3 Responses to North Korea Shifting from Super Notes to Super Bonds?

  1. Duke
    July 28th, 2006 at 5:27 pm

    I saw this on MBC news. It looks real with fake and “aged” leather briefcase with US Treasury logo. I think the face value of bond indicated that these are long forgotten “toilet paper” aged prints from early 1900’s.

    So let’s see… What else can DPRK counterfeit? $100 bill to even as strong as genuine Viagra. Hey how about old Itaewon specials like Louis Vuitton, Gucci, etc?

  2. james
    July 28th, 2006 at 6:45 pm

    As long as Roh’s around, won’t this just be brushed off, or ‘forgotten’ about?

  3. Joshua
    July 29th, 2006 at 7:31 pm

    I caught this story on Yonhap today:

    http://english.yonhapnews.co.kr/Engnews/20060729/630000000020060729144927E1.html

    Interpol held a meeting on North Korean counterfeiting, and South Korea pretty much said, “not our problem.”

    South Korea skipped a meeting called by Interpol this week to discuss alleged currency counterfeiting by North Korea, South Korean officials said Saturday.

    “We thought it’s unnecessary (to attend the meeting), as its agenda had nothing special,” an official at the National Police Agency said, requesting anonymity.

    ….

    The Korea Minting and Security Printing Corp. also said it was aware of the meeting but decided to stay away.

    “We were notified of the meeting a few days ago, and decided not to attend it, as it was to handle only forged U.S. dollars,” an official at the state-run company said, also speaking on condition of anonymity.

    So there you have it. But what I wonder about is how many South Korean won the North Koreans are printing. Even the Chinese are apparently accusing the North Koreans now, and there’s been a flood of counterfeit South Korean notes recently. By simply ingoring the problem, the South Koreans passively aid the North Korean regime without attracting so much heat from the United States.

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