North Korea nukes funded from UK? London firm ‘raised MILLIONS for Kim Jong-un's regime'

A Sunday Times investigation has revealed a property in Blackheath has been registered at the UK branch of the regime’s state-controlled insurance company.

Korea National Insurance Corporation (KNIC) has resided at the address in the UK without challenge for more than 20 years.

It was placed under European Union sanctions last year, and has been accused of making vast sums of money through fraudulent claims against London insurers.

But now it is feared to have raised millions of pounds by investing and trading in property and foreign currencies, and sending that back to leader Kim Jong-Un to raise funds for he despot’s nuclear weapons programme.

Official documents reveal the property in Kidbrooke Park Road was purchased by the North Korean government in 2006 for £542,500 and Land Registry documents confirm KNIC as the sole proprietor.

The EU sanctions listing claims the KNIC is “generating substantial foreign exchange revenue which could contribute to [the country’s] nuclear-related, ballistic missile-related or other weapons of mass destruction-related programmes”.

And reports claim up to £33million a year has been funnelled through the insurance company – which is said to have been controlled directly from Pyongyang.

There are also local reports the anonymous-looking home, a detached house in a quiet residential street, was raided by police last year but that has not been confirmed by the authorities.

And the EU report links the insurance company to ‘Office 39’, a unit which allegedly runs an international drug trafficking and arms dealing scheme to fund Kim’s lavish lifestyle through “illicit” activities.

The Treasury has now frozen the KNIC’s UK assets, meaning the Blackheath house now cannot be sold without the government’s permission.

The North Korean embassy in London described the allegations as “groundless”.

The revelation comes amid growing tensions between the West and North Korea, which has threatened a nuclear strike on America amid fears the tensions could spar World War 3.